Thread regarding Bank of America layoffs

Umm actually that is the exact point of minimum wage and the reason why it was created in 1938. It is for people to be able to live and survive on. Minimum wage wasn’t created to give high school kids jobs, it was to protect the worker from getting exploited. It was used as a mechanism to combat inequality and to keep the American dream within reach. Because of the greed and vast income inequality that has continued to grow these past decades, the difference between minimum wage and median wage is increasing. If minimum wage kept up with cost of living, inflation and housing prices it should be around $25-$30. So yes, I support minimum wage being higher but that doesn’t mean that I think we should be getting paid any less. All workers should be getting paid more, and CEOs should not earn 500x more than the average worker.

The people you should be hating on is not the poor worker barely getting by and wanting to earn a living wage, but the billionaires and corporations that have literally rigged the game in their favor and have misinformed people like yourself doing all their dirty work for them.

Also going back to that fallacy that minimum wage jobs are meant for teenagers lol. There aren’t enough teenaged workers for all the minimum wage jobs that exist. In fact the majority of minimum wage workers are adults, and many have families to support. I would love to see what would happen if we only hired teenagers for minimum wage jobs.

This is why America has such a poor quality of life, we have been so indoctrinated by capitalism that we literally fight one another when we should really be joining together to fight the people that hoard all the wealth. Wake up.

This pathetic, out-of-touch buffoon, we have as a CEO doesn't gives a rats azz about giving us a cost of living raise. This guy is a weak mutherfuhker. Employees will continue to resign/quit because of his neglect for our health and financial well being. I am currently seeing employees leave at a rapid pace and at the same time they are bringing in people to just fill a chair regardless of their experience. Again, I am embarrassed to be associated with this backward azz company.

This is a major slap in the face for those of us who have been here for years. I can guarantee this is another reason why people are leaving in droves. They realize not only is this bank run by a bunch of old timey boomers that won’t allow even a hybrid schedule at this point, but the pay is also subpar. Unfortunately, most people need to take the plunge by finding a new job to truly realize how much time they wasted here and what they are truly worth!

So unfair to people who started at $10 or $15 and worked for years and years to get to $20 or $25. For those impacted, I’m so sorry.

I keep hearing that minimum wage isn’t enough to live on. That’s not the point of minimum wage. My kid gets an allowance, but it’s nothing extravagant. He wants a little more so he can go to the movies with his friends. He gets a minimum wage job at the local ice cream store. It’s super easy, That’s what minimum wage is for.

The $22 he was raised a few years ago. And that was the question associates had that weren’t making that. That never got resolved. And yes by 2023 the help will be $25. So employees will be screwed again. No you won’t get that increase because it’s over the percentage of what amount of pay increase is allowed. All around stinks.

They have not said one word about the unfairness of wage compression. Town hall questions are ignored etc. It's very insulting.

I don’t think he misspoke. I heard that the bank is hoping to raise its minimum wage to $25 an hour by 2025. You can probably Google it. I could be wrong but don’t think I am.

I agree. I have been with the band 25 years next month. People with last experience will be making more money than me.

I hate that the bank raised all the min wage people up to $22 but didn't give these kinda percentage raises to the middle range workers.