InsightsSuccess
Subscribe Now!
Get A Chance To Feature In Magazine By Submitting Your Interview Today!
No Result
View All Result
InsightsSuccess
  • Home
  • Industry Insider
  • Magazine
  • Franchises
  • Blog
  • Conferences
No Result
View All Result
InsightsSuccess
No Result
View All Result

Bank Of America announces decision to raise minimum wage of employees to $25 an hour by 2025 

On Tuesday, Bank of America announced its decision on raising the minimum wage of its employees to $25 an hour, by the year 2025. 
Bank of America has been increasing the minimum wages of their employees for the last 4-5 years now, with an announcement for increment every two years or so. 
CEO of Bank of America, Brian Moynihan elaborating on this said, “It costs us a few billion dollars a year, but it’s an investment.” 
In 2017, the bank raised the minimum wages to $15 an hour and in the following 2 years to $20 an hour, for its employees. More than 2,00,000 employees have been impacted by these increments. 
According to Moynihan, raising the minimum wages every few years is about maintaining a “great standard of living” for their teammates and will also help them to get a “career mindset.” 
The CEO also added that by this initiative the shareholders get paid back and the bank is able to generate employee loyalty as well. 
While increasing the minimum wages, the bank also has a requisite for its vendors and suppliers to increase their employee wages to at least $15 an hour. 
“The key is for big companies like ours to set a standard. We think it’s part of sharing our success with our communities”, said the CEO while also stating that 99% of their vendors are already paying a minimum wage of $15 per hour to their employees. 
 

Previous Post

China attempts to suppress virtual currency; Bans services dealing with cryptocurrency

Next Post

Why does FamiSafe app with location tracker features make it the best control app for parents?

Next Post
app with location tracker features

Why does FamiSafe app with location tracker features make it the best control app for parents?

Recent News

After Indian Ministers Fail to Persuade Musk to Incorporate His Tesla Business in India, Musk Has Shifted His Focus to Indonesia
Recent News

After Indian Ministers Fail to Persuade Musk to Incorporate His Tesla Business in India, Musk Has Shifted His Focus to Indonesia

Elon Musk, the CEO of Tesla and SpaceX, is slated to visit Indonesia in November as he wraps up operations...

Read more
Asian-Equities

Asian Equities Struggle Following Crippling China Statistics

Elon-Musk

Elon Musk’s Legal Issues Are Causing Tesla and Twitter Stock to Fall

Google-logo

300 European Publishers Sign Content Deals with Google

A-apple-smartphone

Under a New Digital Watchdog, the UK Is Pushing for Stricter Tech Regulations

Path Breakers

Hubstaff

Hubstaff: Time and Workforce Management at Your Fingertips Virtually

Evonence LLC – Expert Google Workspace Partner Across North America

Evonence LLC – Expert Google Workspace Partner Across North America

Booster Box – A Passionate International Performance Marketing Agency for PPC Advertising Campaigns

Booster Box – A Passionate International Performance Marketing Agency for PPC Advertising Campaigns

Gary Olson | CEO | GHO Group LLC

GHO Group LLC: Bringing Vision to Reality

Josh Usheroff | Co-Founder | Black Box Productions

Black Box Productions: Crafting Visually Engaging Stories

Insights Success is an archway that caters to Entrepreneurs’ quench of technology and business updates which are currently ruling the business world.
We are ceaselessly proving the best platform for leading companies, which aids indefinite progress while creating meaningful learning experiences for the visitors and invaluable brand awareness for the clients.

  • About Us
  • Advertise With Us
  • General Disclaimer
  • Terms & Condition
  • Privacy Policy
  • Subscribe
  • Contact Us

© Copyright 2022, InsightsSuccess | All Rights Reserved.

No Result
View All Result
  • Home
  • Industry Insider
  • Magazine
  • Franchises
  • Women In Business
  • Blog
  • Conferences
  • IT & Innovations
  • Leadership
  • Healthcare
  • Money
  • Startups

© Copyright 2022, InsightsSuccess | All Rights Reserved.