Bank of America raising minimum wage to $20/hr

[Berniewood Hogan]

there really is seemingly no meaningful incentive to do right by employees.

how would you know, business failure?

i heard you was an expat now

where will you utterly fail next?

 

[DEAD7]

how would you know, business failure?

i heard you was an expat now

where will you utterly fail next?

Progressives are on full tilt this election cycle.



Like I said, BofA didn’t have give a cent more but did... and did so voluntarily. Progressives throwing shade at this move proves there is no pleasing you.

 

[Wild self]

When the next recession hits, they're going to fire/layoff a buttfukk TON of people

Make sure your little nephews, nieces, and cousins study STEM in college....don't get caught out there

That's not gonna help. Not at all. All those STEM jobs gonna be overpopulated and we be back at square one. Better to enforce UBI or have a social Democracy like Bernie Sanders wants. A service economy gonna crumble any 1st world country.

 

[hashmander]

What they didnt tell you was they are getting rid of all tellers

and they will keep the bankers and smart atms

yup the low wage jobs are being eliminated anyway, so what will be left are the jobs that they feel ok with paying a min of $20 an hour.

 

[BillBanneker]

need time to gradually increase overdraft fees.

And cut about a 1/3 of their workforce.

 

[Json]

Progressives are on full tilt this election cycle.



Like I said, BofA didn’t have give a cent more but did... and did so voluntarily. Progressives throwing shade at this move proves there is no pleasing you.

More like we’ve seen this dog and pony show before.

Wal-Mart national headline one week: We are giving out 1500 dollar bonuses!!


Wal-Mart small print barely covered a month later: Only if you’ve been here 20 years

 

[Robbie3000]

But I heard this was physically impossible.

That's what I heard. Service companies can't afford to pay people living wages like manufacturing companies used to do back in the day.

Let's give credit to Young Bernie for making living wages part of the national conversation. Bernie might go down as the most influential candidate in the last 30 years and that's off one lp.

 

[levitate]

Damned if they do, damned if they don’t...there really is seemingly no meaningful incentive to do right by employees.
BofA didn’t have to do anything… they were already paying a “living wage” and they are increasing it...
…it’s impossible to please liberals

Be mad at workers making more money, brehs...

 

[¯\_(ツ)_/¯]

Damned if they do, damned if they don’t...there really is seemingly no meaningful incentive to do right by employees.
BofA didn’t have to do anything… they were already paying a “living wage” and they are increasing it...
…it’s impossible to please liberals

Its because its Bank of America and there's skepticism with how they run business.

So on the surface you wanna argue SEE CAPITALISM WORKS....but the liberals are saying "What's the catch?"

 

[AZBeauty]

When the next recession hits, they're going to fire/layoff a buttfukk TON of people

Make sure your little nephews, nieces, and cousins study STEM in college....don't get caught out there

YWCA has a program for girls. I have my daughter in their after school program, she's 10 and its free. I imagine YMCA would have one free of charge for boys as well.

 

[Pressure]

Damned if they do, damned if they don’t...there really is seemingly no meaningful incentive to do right by employees.
BofA didn’t have to do anything… they were already paying a “living wage” and they are increasing it...
…it’s impossible to please liberals

Their incentive is to reduce high turnover rates.

I imagine they crunched the numbers and realized they'll save money over time by not being understaffed and having to ramp new people up over and over.

 

[PoorAndDangerous]

I mean yeah, bank teller is like, one of the first things that will be replaced with automation, in most places they already are.

It's like when Ford rose wages from $2/day to $5/day. It wasn't the altruistic gesture that he painted it as afterwards for an easy PR win. He had a turnover rate approaching 1000% for his assembly lines (for every 100 trained workers he had to hire and train 934 a month) and needed to pay more to keep his garbage processes in place because it's menial, soul crushing work.

Banking also has one of the highest turnover rates among industries in the US (last I knew it was around 20%).

None of these companies do this out of interest in their employees, they do it because in the long run it makes the people at the very top more money, and because they need to retain the limited staffing and labor needs they'll have once the positions are gone.

Being a teller fukking sucks. Have to deal with alot of bullshyt for not enough money while being on the lowest totem pole at the bank

 

[the cac mamba]

the outrage in here is fukkin embarrassing

 

[Berniewood Hogan]

Being a teller fukking sucks. Have to deal with alot of bullshyt for not enough money while being on the lowest totem pole at the bank

The burger flippers at Bank of America should use that experience to get motivated to get a better job. Banking is for teenagers to do in the summer, it was never meant as a career. Instead of demanding an insane $20 an hour, bankers should find more lucrative business to get into.

 

[newarkhiphop]

Lol a local student loan company did the same thing but then cut employee's yearly bonuses