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Bank of America to raise it's minimum wage to $25 by 2025
Posted on 5/18/21 at 9:30 pm
Posted on 5/18/21 at 9:30 pm
9
Posted on 5/18/21 at 9:32 pm to LSU6262
How many people are working low skill jobs for Bank of America though? You think mom and pop grocery story in Eunice can pay Chris $20 an hour to bag groceries?
Posted on 5/18/21 at 9:35 pm to jimbeam
Man I better get a large raise this year
Posted on 5/18/21 at 10:42 pm to LSU6262
Well to be honest you really don't want someone who is barley getting paid counting your money.
Posted on 5/18/21 at 11:30 pm to LSU6262
Once you automate all the tellers it seems like The only jobs left would be relatively well earning.
Posted on 5/18/21 at 11:40 pm to LSU6262
Well since you know they’ll be pushing this added cost onto the customer via increased fees, I’d be closing any Bank of America accounts I had left open before 2025
Posted on 5/19/21 at 7:49 am to LSU6262
Luckily I close my Bank of America account a few months ago. Fees will go up on their customers and low paying unskilled jobs will vanish.
Posted on 5/19/21 at 7:50 am to Teddy Ruxpin
quote:
Once you automate all the tellers it seems like The only jobs left would be relatively well earning.
Correct
I'm trying to figure out why any bank teller even has a job anyway
Posted on 5/19/21 at 7:50 am to LSU6262
I mean, it'll probably have the same value as it does now based on inflation.
Posted on 5/19/21 at 9:17 am to LSU6262
Oh, look how noble.
Now BOA needs to tell us how many folks in different countries they employ where this payscale will not exist. Or are you comfortable trying to signal how great you are and cast shade on all the small local employers that cant farm out 1/2 of their work overseas.
Now BOA needs to tell us how many folks in different countries they employ where this payscale will not exist. Or are you comfortable trying to signal how great you are and cast shade on all the small local employers that cant farm out 1/2 of their work overseas.
Posted on 5/19/21 at 9:23 am to LSU6262
Wonder what the minimum layoffs will be
Posted on 5/19/21 at 9:32 am to LSU6262
So my son won't be able to work part time at the bank in high school like I did. Those two years taught me more than any class I ever took, but apparently that isn't important.
Posted on 5/19/21 at 9:58 am to tigerfoot
quote:
small local employers that cant farm out 1/2 of their work overseas.
Globalization hit the small business market years ago. Adapt or die.
Posted on 5/19/21 at 10:40 am to DeafVallyBatnR
quote:
Well to be honest you really don't want someone who is barley getting paid counting your money.
No one wants someone drunk on hops and barley counting money.
Posted on 5/19/21 at 10:45 am to Teddy Ruxpin
quote:
Once you automate all the tellers it seems like The only jobs left would be relatively well earning.
This.
Also why do they call starting pay minimum wage? Must be trying to score woke points.
Posted on 5/19/21 at 12:11 pm to oklahogjr
quote:Not to all industry it did not.
Globalization hit the small business market years ago. Adapt or die.
Posted on 5/19/21 at 12:17 pm to BlackAdam
quote:
So my son won't be able to work part time at the bank in high school like I did. Those two years taught me more than any class I ever took, but apparently that isn't important.
He'll probably get a stimmy and make Tik Tok videos while trading crypto
Posted on 5/19/21 at 12:34 pm to tigerfoot
quote:
Not to all industry it did not.
Huh which ones did it not? I'd stay the frick outta those if I was gonna make money...
Granted there are jobs that you physically must be there for, however globalization could absolutely help other parts of the business.
Posted on 5/19/21 at 3:51 pm to Giantkiller
quote:
any Bank of America accounts I had left open before 2025
Why would anyone not have closed them a long time ago?
Posted on 5/20/21 at 3:22 am to 21JumpStreet
quote:
Wonder what the minimum layoffs will be
ZeroHedge
quote:
Wells Fargo analyst Mike Mayo sees a major change coming in the world of U.S. banks. In fact, he predicts that they could wind up doing away with 200,000 jobs, or 10% of the industry's total employee count, over the next decade.
The shift would come as a result of looking to increase profitability in an age of automation and changing customer behavior. “This will be the biggest reduction in US bank headcount in history,” Mayo told the Financial Times.
The jobs most at risk are in-person branch jobs and call centers; as if it wasn't already difficult enough to get any banking done in person or over the phone with an actual human being.
Mayo's analysis gels with Department of Labor predictions, which are calling for a 15% decline in bank teller jobs over the next decade. In addition to technological advancements, non-bank lenders entering the market have also put pressure on banks, Mayo said.
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