The GEO Group Announces Increases in Minimum Starting Wages for Correctional & Detention Officers across Its U.S. Corrections...
May 13 2019 - 6:55AM
Business Wire
The GEO Group (NYSE:GEO) (“GEO”) announced today that it
will increase its minimum starting wage rates for correctional and
detention officers across all corrections and detention facilities
in its U.S. Corrections and Detention business unit.
As previously announced, effective May 1, 2019, GEO has
increased the minimum starting wage rate for correctional and
detention officers to $13.00 per hour. GEO will further increase
the minimum starting wage rate to $14.00 per hour by January 1,
2020 and $15.00 per hour by January 1, 2021.
George C. Zoley, GEO’s Chairman and Chief Executive Officer,
said, “We are pleased to take these important steps to increase our
correctional and detention officer minimum starting wage rates. As
an employer of approximately 23,000 employees, world-wide, we
recognize the importance of employee pay, working conditions and
total compensation. These new minimum starting wage rates will set
GEO apart from other organizations and will allow us to recruit the
best and most talented employees.”
“Furthermore, we are thankful that the average hourly wage for
all GEO non-exempt, hourly employees, inclusive of our federal and
state contracts, is presently $18.30 per hour, well ahead of our
new minimum starting wage rates. Our diverse workforce plays a
critical role in the delivery of high-quality services and humane
care to all those entrusted to us, and our employees are integral
members of the communities in which our facilities and programs are
located across the country,” Zoley added.
The GEO Group, Inc. (NYSE: GEO) is the first fully integrated
equity real estate investment trust specializing in the design,
financing, development, and operation of correctional, detention,
and community reentry facilities around the globe. GEO is the
world's leading provider of diversified correctional, detention,
community reentry, and electronic monitoring services to government
agencies worldwide with operations in the United States, Australia,
South Africa, and the United Kingdom. GEO's worldwide operations
include the ownership and/or management of 135 facilities totaling
approximately 96,000 beds, including projects under development,
with a growing workforce of approximately 23,000 professionals.
This press release contains forward-looking statements regarding
future events and the future performance of GEO that involve risks
and uncertainties that could materially affect actual results.
Factors that could cause actual results to vary from current
expectations and forward-looking statements contained in this press
release include, but are not limited to: (1) GEO’s ability to
successfully pursue further growth and continue to enhance
shareholder value; (2) GEO’s ability to access the capital markets
in the future on satisfactory terms or at all; (3) GEO’s ability to
control operating costs associated with contract start-ups; (4)
GEO’s ability to timely open facilities as planned, profitably
manage such facilities and successfully integrate such facilities
into GEO’s operations without substantial costs; (5) GEO’s ability
to win management contracts for which it has submitted proposals
and to retain existing management contracts; (6) GEO’s ability to
obtain future financing on acceptable terms or at all; (7) GEO’s
ability to sustain company-wide occupancy rates at its facilities;
and (8) other factors contained in GEO’s Securities and Exchange
Commission filings, including its Form 10-K, 10-Q and 8-K
reports.
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version on businesswire.com: https://www.businesswire.com/news/home/20190513005189/en/
Pablo E. Paez 1-866-301-4436Executive Vice President, Corporate
Relations
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