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Bank of America raising hourly minimum wage to $25 by 2025 – Las Vegas, Nevada

Las Vegas, Nevada 2021-05-19 03:30:02 –

(((WCMH) — Bank of America announced on Tuesday that it would raise the US minimum wage to $ 25 per hour by 2025.

The bank’s current minimum wage is $ 20 First announced in 2019.. This increase was planned to take place over two years in stages, but was completed a year earlier than planned.

Sheri Bronstein, Chief Human Resources Officer at Bank of America, said: “This includes providing strong salaries and competitive benefits to support them and their families, which allows us to attract and retain our best talent. . “

Bank of America also announced that all US vendors will have to pay more than $ 15 per hour to bank-only employees. According to the company, as a result of implementing this policy, more than 99% of more than 2,000 US vendors and 43,000 vendor employees have rates of more than $ 15 per hour.

While the Byden administration has failed to raise the federal minimum wage from $ 7.25 per hour, several other companies have also raised workers’ wages this year.

During February Costco Announcement The minimum wage for warehouse employees is $ 16 per hour, which is $ 1 higher than Amazon, Target, and Best Buy. During April Announced by Amazon Over 500,000 people at fulfillment centers see hourly wages increase between 50 cents and $ 3. Last Thursday, McDonald’s announced that it would raise its hourly wage by an average of 10%.

Congress last raised the minimum wage in July 2009, from $ 6.55 to $ 7.25 per hour.

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