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10/6/2021, 5:05 PM (Source: TeleTrader)
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Bank of America raises US minimum wage to $21

Bank of America raised its minimum hourly wage to $21, as a part of its commitment to increase the rate to $25 by 2025, the bank announced on Wednesday.

The announcement comes after the bank started requiring all of its US vendors to pay their employees at least $15 per hour in May, and marks a step forward on its path towards "being a leader in establishing a minimum rate of pay for its US hourly employees."

"Our company’s focus on Responsible Growth requires that we provide a great place to work. ... Today, we are taking another step forward, again increasing our minimum rate of pay for U.S. employees, demonstrating our commitment to sharing our success with teammates, and inspiring others to do the same," said Sheri Bronstein, chief human resources officer at Bank of America.

Baha Breaking News (BBN) / TT