Bank of America said Tuesday that it will raise the hourly minimum wage of its U…
Bank of America said Tuesday that it will raise the hourly minimum wage of its US employees to $25 by 2025. “It costs us a few hundred million dollars a year … but it’s an investment,” CEO Brian Moynihan said, adding that it’s about maintaining a “great standard of living for our teammates.” The news comes amid a nationwide debate around minimum wage with President Joe Biden expressing his support for a federal minimum wage of $15 an hour.
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