Company officials have begun speaking out about these changes and their plans as 2024 wraps up. According to chief human resources officer Sheri Bronstein, Bank of America remains committed to a “competitive minimum wage.”
It’s the company’s view that reaching the $25 mark demonstrates “leading by example” in the right direction.
Trouble in paradise?
Despite taking action to increase the minimum wage, this year has seen signs of trouble for Bank of America. Back in July 2024, the financial services company shuttered eight branches across the following states:
- New Jersey
- Missouri
- California
- Arizona
- Illinois
- New York
- Washington
- Tennessee
With these closures comes the loss of jobs for employees staffed at various locations. Unfortunately, Bank of America is far from alone in shutting down some of its sites in a seemingly unexpected manner.
Months ago, dozens of Red Lobster restaurants closed, to the surprise of their workers. Some even took to social media, claiming they were given zero notice that they’d soon be out of a job. Certain employees even stated they only learned of the news after driving to work and seeing the restaurant was no longer open.
