Bank of America Does Not Avoid Costs for Talented Employees!

  Bank of America Does Not Avoid Costs for Talented Employees! Bank of America 's CEO, said they are ready to do whatever it takes to recruit talented employees. Making a statement on Thursday, Moynihan expressed that Bank is ready to do whatever it takes to recruit talented employees. Answering questions from CNBC's Jim Cramer, Moynihan said, "We want to attract the greatest talent to our company. We are ready to pay extra for that." found in the description. The Administration announced in a statement on Tuesday that it had raised the minimum wage to $ 25 per hour by 2025. This move by the bank puts pressure on US companies working with Bank of America to pay their employees at least $ 15 an hour. Commenting on the wage hike, Moynihan said, "We are raising wages because we want our teammates to feel that they have a healthy career and stay with us."

Bank of America 's CEO, said they are ready to do whatever it takes to recruit talented employees.

The second largest wealth bank in the US, Bank of America has increased employee wages for the third time in a row. Accordingly, the bank's minimum wage, which was $ 17 in 2019, rose to $ 20 in 2020. In addition, according to the information shared with shareholders in March, employee turnover fell from 11 % in the previous year to 7 % in 2020. The bank's shares, which did not fire any branch employees during the Covid-19 outbreak, closed at $ 41.87 on Thursday, down 0.24 %. The stock has risen by 38 % so far.  

Source: www.cnbc.com

 

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