Restaurants and retailers across the U.S. are tossing out perks such as $1,000 hiring bonuses to fill their workforce holes before the holiday rush.

The move is the latest step in the coffee giant's quest to improve the lives of its workers.

The coffee chain will increase pay for its 150,000 U.S. hourly and salaried employees in April, as well as make its paid-sick time benefit national, allowing workers to save up time off to use for themselves or family.

Fast food workers are holding rallies in 230 cities Wednesday in their biggest protest yet for higher pay and union rights.

The company, which will list early next year on the New York Stock Exchange, is aiming for a $1 billion valuation in the initial public offering.

McDonald's objected to the decision, saying it would unfairly change the rules for thousands of small businesses, along with other corporations that rely on franchising.

McDonalds Corp. Chief Executive Officer Don Thompson, defending the fast-food chain after worker protests this week, said its restaurants pay a fair wage.

McDonalds Corp. told its corporate headquarters employees to stay home today as restaurant workers plan a protest of the fast-food chain.