A living wage is compensation for workers sufficient to purchase the necessities of life and other goods and services necessary for a decent standard of living. Market conditions sometimes result in the market for labor driving its cost below a living wage. Firms such as the clothing firm H&M have committed to overcoming that deficiency. On 25 November 2013, H&M's global head of sustainability committed that H&M, as the world's second-largest clothing retailer, will aim to pay all textile workers "living wage" by 2018, stating that governments are responding too slowly to poor working conditions in Bangladesh among other Asian countries where many clothing retailers source a majority if not all of their garments. From being the first retailer to sign a European pact for safety in Bangladesh garment factories, H&M is taking the next step working to develop fair pay structures in two model factories in Bangladesh and one in Cambodia by 2014, and plans to implement the model to all 750 of its supplier factories by 2018.
Notes and references
- "H&M will aim to pay all textile workers "living wage" by 2018". Reuters.com. http://www.reuters.com/article/2013/11/25/us-hm-wages-idUSBRE9AO0I820131125. Retrieved 28 November 2013.
- H&M ́s roadmap towards a fair living wage in the textile industry H&M PDF document
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