Fifth Third Bank announced plans on Wednesday to raise its minimum wage for all employees to $15 per hour.
They also confirmed $1,000 bonuses to more than 13,000 employees.
About 75% of the bank’s employees will get either a pay raise or a bonus.
Fifth Third president Greg Carmichael says the reduction in corporate tax rates under the new plan is allowing the bank to invest in what he says is the bank’s most important asset – its people.
(This story was originally published on December 21, 2017)