Bank of America Hired 2,000 New Employees in March; Raises for Others
While many organizations are announcing layoffs and hiring freezes, Bank of America announced that it has hired more than 2,000 new employees in March alone and will not be doing any layoffs or job reductions in 2020 as a result of the pandemic. They also raised their U.S. minimum hourly wage to $20.
“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. in consumer and operations functions,” Bank of America’s vice chairman Anne Finucane told CNBC this week (3/31/2020).
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Joe Jamrog is a longtime researcher at i4cp, having worked at the company for over 20 years in a variety of capacities. Joe's #1 priority is working with members of i4cp's communities to help them with their organizational research needs by curating resources, data, and other materials to help address critical questions and challenges.
Joe also manages all i4cp research surveys and is responsible for creating and perfecting the survey instruments used to collect the tens of thousands of data points the i4cp research team uses to analyze and discover the best and next practices of high-performance organizations. He subsequently uses Tableau and other tools to make that data accessible to both the research team and i4cp members.