Fifth Third Bancorp on Wednesday announced a plan to “raise its minimum hourly wage for all employees to $15, and distribute a one-time bonus of $1,000 for more than 13,500 employees” after the passage of the GOP tax bill, CNBC reported.
JUST IN: Fifth Third Bancorp announces plan "to raise its minimum hourly wage for all employees to $15, and distribute a one-time bonus of $1,000 for more than 13,500 employees" following passage of tax bill. https://t.co/iv4i2MTAkO
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Fifth Third said that the tax cuts resulting from the GOP tax bill backed by President Donald Trump will allow it to pass on the benefits to employees.
Fifth Third … said the tax cut allowed it to re-evaluate its employee pay and pass along some of the windfall. Nearly 3,000 workers will see hourly wages rise to $15. The $1,000 one-time bonus is expected to be paid by the end of this year, the bank said, assuming President Trump signs it by Christmas. – READ MORE
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