JPMorgan Chase & Co. is planning to make special payments to its lower-paid employees and bank-branch workers who don’t have the ability to do their jobs from home.
The bank will make payments of $1,000 -- $500 next month, and the rest in May -- to branch-based employees as well as to operations and call center staff who make less than $60,000 in total annual cash compensation, according to an internal memo. A spokeswoman confirmed the contents of the memo.
“Many of our front-line employees in our branches, operations and call centers, and other key sites who continue to go into their office or branch each day face particular challenges related to issues like childcare and transportation,” the bank’s operating committee said in the memo to staff Friday. The payments are a way to “help them meet these challenges and to recognize their ongoing commitment to our customers, clients and communities.”
The bank is also planning to give all its workers an extra five paid days off.
This article was provided by Bloomberg News.