BNY Mellon Bank reward employees when others cut payments
2022.12.14 12:09
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BNY Mellon Bank reward employees when others cut payments
Budrigannews.com – (NYSE) BNY Mellon said on Wednesday that each rank-and-file employee would receive 10 shares of the company in an effort to include all workers in the bank’s commercial success.
According to a memo written by BNY Mellon Chief Executive Officer Robin Vince, the shares, which closed on Tuesday at approximately $46, will be put into a Fidelity stock plan that accounts for approximately 90% of staff.
In recent years, major banks have offered special bonuses and raised hourly wages amid intense talent competition. Equity awards have typically been given to Wall Street bankers and executives with high salaries.
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The latest addition to BNY Mellon’s list of benefits is the company’s stock grants. Other benefits include a new policy that gives all parents 16 weeks of paid leave beginning in January.
At the end of the third quarter, the bank’s global workforce was approximately 51,000. Its assets total $42.2 trillion.
