Economy
Related: About this forumJamie Dimon: Why We’re Giving Our Employees a Raise
'WAGE stagnation. Income inequality. A lack of quality education. Insufficient training and skills development.
Issues like these have led approximately two-thirds of Americans to believe that the next generation will be worse off than the last. And it is true that too many people are not getting a fair opportunity to get ahead. We must find ways to help them move up the economic ladder, and everyone business, government and nonprofits needs to play a role.
At JPMorgan Chase, were starting by giving thousands of employees a raise.
Our minimum salary for American employees today is $10.15 an hour (plus meaningful benefits, which Ill explain later), almost $3 above the current national minimum wage. Over the next three years, we will raise the minimum pay for 18,000 employees to between $12 and $16.50 an hour for full-time, part-time and new employees, depending on geographic and market factors.
A pay increase is the right thing to do.'>>>
http://www.nytimes.com/2016/07/12/opinion/jamie-dimon-why-were-giving-our-employees-a-raise.html?
artyteacher
(598 posts)Warpy
(110,913 posts)unless they're unionized or in management.
This is why it's so vitally important to raise the minimum wage to a living level and then index it to inflation. We should also fix the CPI market basket so another bastard like Greenspan can't fiddle with it and substitute beans for hamburger.
guillaumeb
(42,641 posts)On the other side:
The bank awarded Dimon, its chief executive officer and chairman, $27 million for 2015, up from $20 million a year earlier, according to a regulatory filing Thursday. The package includes $20.5 million in performance share units, a new pay element tied to future targets. Proxy advisers had complained last year that the company lacked concrete goals for its executives. Dimon also got a $5 million cash bonus and a $1.5 million salary.
http://www.bloomberg.com/news/articles/2016-01-21/dimon-s-pay-jumps-to-27-million-with-most-tied-to-performance
Wellstone ruled
(34,661 posts)Remember after 9/11 when JP Morgan and all their affiliates slapped a wage and hiring freeze as major changes in Vendor Purchases. Tons of fulltime employees went down the road to be replaced by temps. Bottom line,it was their answer to the Boom Boom Room Lawsuit's.