Eligible Bank of America staff earning $100,000 or less a year will get a $750 pandemic bonus, Bloomberg reported.The lender spent around $300 million providing child and adult care to its employees in 2020.Eligible staff at the second-biggest US lender who earn $100,000 or less annually will get the bonus.
Employees earning more than that that will get a stock award,"Our company and teammates were called upon to address unprecedented challenges," CEO Brian Moynihan wrote in the memo. "This move is the next step our company is taking to significantly invest in health, safety, benefits, and other resources to support you during this global health and humanitarian crisis."
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