Bank of America is raising its minimum wage for employees to $20 an hour

[riverine]

Bank of America is raising the minimum wage for employees this year and plans to hike it to $20 an hour in two years.

“If you get a job at Bank of America, you’ll make $41,000” a year, Chairman and CEO Brian Moynihan told MSNBC on Tuesday. “With the success our company has ... we have to share that success with our teammates.”

Starting May 1, the hourly minimum wage will rise to $17 and will go higher in increments for the next two years, the Charlotte, North Carolina-based company said Tuesday in a statement. The bank has also frozen healthcare cost increases for lower-paid employees, Moynihan said on MSNBC.

https://www.cnbc.com/2019/04/09/bank-of-america-is-raising-its-minimum-wage-for-employees-to-20-an-hour.html?__source=twitter%7Cmain

[CDerekGo]

1. I still wouldn't work there

Banks are nothing more than Retail that's exclusively working with $$$. I used to work at a bank taken over by NCNB (now Bank of America). Just glad I left before it became the shitstorm it's become.

[Wounded Bear]

5. And at the same time, reducing their work forces...

watch for it. There will be layoffs soon.

[Sherman A1]

6. Yup

But those will be “right sizing” and attrition adjustments.

[Dem_4_Life]

3. Hopefully the smaller ones will follow BOA lead.

It's about time.

[samnsara]

4. thats great!