A major American bank with over $ 2.6 billion In assets, just increased its minimum wage.
Bank of America Announced On Wednesday that it will increase his minimum wage for workers by $ 25 per hour for workers per hour. The next month changes will be effective, the minimum wage for full -time American employees will increase more than $ 50,000 annually.
This increment is the final stage of a scheme announced in 2017, which increases the bank’s base salary from $ 15 per hour to $ 25 per hour by 2025. (Employees are making $ 24 per hour since October 2024.) With an increase of $ 25 per hour, the initial salary for full -time American employees will increase by more than $ 20,000 since 2017.
Connected: The Bank of America is tightening overwork for junior bankers and capping only 80 ’80’ in a week. here’s why.
Bank of America CEO Brian Mionihan said, “(The Rise) gives a team partner to join our company, spend his entire career here and support his families.” Bloomberg,
Mionihan emphasized that the high minimum wage reduced the turnover, decreasing the rate of employees departed from 20% in 2017 to about 10% this year. Customer AttentionOr the loss of customers has also fallen, he said.
Bank of America CEO Brian Mionihan. Photographer: Betty Laura Zapata/Bloomberg via Getty Image
As the Bank of America adopts new techniques like AI, it has reduced its number of employees in some departments, Mionihan said that BloombergThe goal is to add more dollars to the employees’ pockets, which “skilling again,” he said.
Was about Bank of America 213,000 employees By July, according to its news room.
Connected: According to Bank of America data, today is considered ‘middle income’ in America
Amazon is increasing salary
Amazon too Announced This week that this week will increase its average hourly salary by more than $ 23 per hour. Retail legends are investing more than $ 1 billion to increase wages and reduce the cost of healthcare schemes for their employees.
Full -time employees will have an average increase of $ 1,600 per year.
Meanwhile, Amazon’s entry-level healthcare plan will cost $ 5 per week and will be $ 5 for the co-payment starting next year. Amazon said that changes are reduced by 34% in weekly contribution costs.
Amazon employed 1.55 million People globally by the end of last year.
Connected: Amazon asks thousands of employees to transfer or resign
A major American bank with over $ 2.6 billion In assets, just increased its minimum wage.
Bank of America Announced On Wednesday that it will increase his minimum wage for workers by $ 25 per hour for workers per hour. The next month changes will be effective, the minimum wage for full -time American employees will increase more than $ 50,000 annually.
This increment is the final stage of a scheme announced in 2017, which increases the bank’s base salary from $ 15 per hour to $ 25 per hour by 2025. (Employees are making $ 24 per hour since October 2024.) With an increase of $ 25 per hour, the initial salary for full -time American employees will increase by more than $ 20,000 since 2017.
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