Bank Of America Increases U.S. Minimum Hourly Wage To $23 As Next Step To $25 By 2025
Portfolio Pulse from Benzinga Newsdesk
Bank of America has announced an increase in its U.S. minimum hourly wage to $23, as part of its plan to reach $25 by 2025.
September 20, 2023 | 3:02 pm
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Bank of America's decision to increase its minimum hourly wage could potentially lead to increased operational costs in the short term.
The wage increase announced by Bank of America will likely lead to increased operational costs in the short term. However, it could also lead to improved employee satisfaction and retention, which could have positive effects in the long term.
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