A big US bank, with over 6 2.6 Billion In assets, only its minimum wage increased.
Bank of America Announced On Wednesday, it will increase its minimum salary for its entire and part -time US workers to $ 25 an hour. The change will apply next month, which will increase the minimum salary for full -time US employees, more than 50,000 annually.
This salary hike is the last phase of the plan to increase the bank’s base salary from $ 15 per hour to $ 25 in 2017.
Related: The Bank of America is doing more work for junior bankers and is doing only 80 ‘only’ a week. Why is it here
Bank of America CEO Brian Mohan said, “(Rise) gives a team partner an opportunity to join our company, spend his entire career here and support his family.” Bloomberg.
Mohan emphasized that the minimum wage minimum wages minimize the business, which has led to the departure rate of employees has dropped from 20 % to 10 % in 2017 this year. Customer’s volatilityHe said, or the loss of consumers has also fallen.
Brian Mohan, CEO of Bank of America. Photographer: Betty Laura Zapata/Bloomberg through Getty Images
Since the Bank of America adopts new technologies like AI, it has reduced the number of employees in some departments, Mohan said. Bloomberg. The purpose is to put more dollars in employees’ pockets that are left and “they are skilled again,” he said.
Bank of America was about 213,000 employees By July, according to his newsroom.
Related: According to Bank of America data, today is considered ‘middle income’ in the United States
Amazon is raising salary
Amazon too Announced This week, his average hour salary will exceed $ 23 per hour. Retail giant is investing more than $ 1 billion to increase wages and reduce the cost of health care plans for its employees.
The salary of full -time employees will increase on average by 6,600 each year.
Meanwhile, Amazon’s admission level health care project will cost $ 5 and $ 5 per week for co -salaries starting next year. The change of weekly partnership costs is 34 %, Amazon said.
Amazon employed 1.55 million People globally by the end of last year.
Related: Amazon asks thousands of employees to move or resign
A big US bank, with over 6 2.6 Billion In assets, only its minimum wage increased.
Bank of America Announced On Wednesday, it will increase its minimum salary for its entire and part -time US workers to $ 25 an hour. The change will apply next month, which will increase the minimum salary for full -time US employees, more than 50,000 annually.
This salary hike is the last phase of the plan to increase the bank’s base salary from $ 15 per hour to $ 25 in 2017.
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