Bank of America announced Tuesday that it will raise its U.S. minimum hourly wage to $25 by 2025. In March last year, the company raised its U.S. minimum wage to $20 per hour.
In addition, Bank of America announced that all of its U.S. vendors are now required to pay their employees dedicated to the bank, at or above $15 per hour. The company said over 99% of its more than 2,000 U.S. vendor firms and 43,000 vendor employees are at or above the $15 per hour rate, as a result of the implementation of this policy.
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