Tag: minimum wage

Bank of America pledges to raise minimum wage to $25 in the next 5 years

Written by Cape Coral Mortgage Syndicated User on May 18, 2021. Posted in Business, Cape Coral Mortgage, Mortgage Cape Coral.

CNN — Bank of America officials said that the banking company will raise it’s 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,” the bank’s CEO Brian Moynihan said on Tuesday, adding that It’s about maintaining a “great standard of living for our teammates.” Paying more also helps give people a “career mindset” which can unearth loyalty that benefits shareholders in the long run. Other banks are following suit, but not as aggressively. JPMorgan...

McDonald’s is raising wages at company-owned restaurants

Written by Cape Coral Mortgage Syndicated User on May 13, 2021. Posted in Business, Cape Coral Mortgage, Mortgage Cape Coral.

McDonald’s is the latest restaurant to say it’s raising wages in a bid to attract workers. The company is increasing hourly employees’ pay by about 10 percent, it announced Thursday — but the change applies only to a small percentage of staff. Entry-level employees will earn at least $11 to $17 an hour, the company said in a statement. Shift managers will earn at least $15 to $20 an hour, CNN reports. The company has already started implementing the increases and will continue to roll them out in the months ahead. Hourly wages should reach $15 on average at the restaurants...