Via Fiscal Times:
JP Morgan Chase will increase wages for its lowest-paid workers and reverse its recent trend of branch closures, it announced on Tuesday, after promising to share the proceeds of the Trump administration’s recent tax cuts.
The moves are part of an investment plan which the bank says will be worth $20bn over the next five years, including further commitments to increase its lending to small businesses and create thousands of new jobs.
Wages for 22,000 of JPMorgan’s hourly workers will increase from between $12/hour and $16.50/hour to between $15/hour and $18/hour, depending on the local cost of living. The rises will come into force from February 25, with staff gaining an average wage rise of 10 percent.