While many across the U.S. are announcing layoffs and hiring freezes due to coronavirus, Bank of America claims they hired more than 2,000 new employees in March alone and raised their U.S. minimum hourly wage to $20. Vice chairman Anne Finucane reveals how the company protects the well-being of its 200,000+ employees while also maintaining business continuity and protecting the bottom line.
In response to the coronavirus outbreak, thousands of companies across the U.S. are announcing layoffs and hiring freezes.
Our 208,000 teammates around the world are our No. 1 priority and are critical to our path forward. It's because of their continued focus to making financial lives better that we can keep the wheels turning and be there for our millions of clients. That's why we won't be doing any layoffs or job reductions in 2020 as a result of coronavirus. In fact, during March alone, we welcomed more than 2,000 new teammates to our company in the U.S.
The coronavirus pandemic and its impact on the markets is causing fear and anxiety across the world. What is Bank of America doing to calm clients' fears?
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