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Bank of America plans to pay its employees special bonuses for their work throughout the pandemic.
The lender will give $750 to eligible staff who earn $100,000 or less annually, while higher-paid employees will receive a stock award, according to a memo to staff from Chief Executive Officer Brian Moynihan. The contents of the memo were confirmed by a bank spokeswoman.
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Despite job openings and increasing unemployment, employers are having a hard time filling roles formerly occupied by non-American workers.
Chime Financial and BlackRock are among the other companies that have also promised to match the government's contribution.
While the bank says that 401(k) and healthcare savings accounts balances have grown during the past year, there are still some troubling indicators.
A new policy requires disabled employees to go through a more intense vetting process, determining if in fact they can continue to work remotely.
Workers are eligible if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000.
