GIVING, America’s new craze!
Bank of America has followed the growing list of American companies celebrating tax cuts by giving its employees special year end bonuses.
Bank of America’s CEO Brian Moynihan, sent out emails to employees citing the benefits to the company from the lower corporate tax rates.
“In the spirit of shared success, we intend to pass some of those benefits along immediately. U.S. employees making up to $150,000 per year in total compensation–around 145,000 teammates–will receive a one-time bonus of $1,000 by year-end,” Moynihan wrote.
The bank also stated that they plan on investing more in technology around the country where it operates but is currently lacking “an extensive financial center network.”