Wednesday, January 31, 2018

Tax Cuts and Jobs Cuts Act (The BMO Harris minimum wage edition)

Source:  Morningstar

BMO Harris Bank raises hourly minimum wage to $15, increases community giving.  (Milwaukee Journal Sentinel, 1/30/2018)
BMO Harris Bank has joined an increasing number of financial institutions in raising its minimum hourly wage to $15. The bank cited the recent federal tax reform, which lowered the corporate income tax rate, in its decision to boost employee compensation.

To the equivalent of $31,200 annually.

Meanwhile, here's what BMO has been doing of late to spur job growth.

BMO Harris to close Rockford call center, cut 21 jobs.  (Rockford Register-Star, 8/30/2011)
BMO Harris cuts 157 Milwaukee jobs.  (Milwaukee Business Journal, 1/18/2012)
BMO Harris to cut 74 jobs in Cedarburg, Sun Prairie.  (Milwaukee Journal Sentinel, 9/13/2012)
BMO Harris banks cuts jobs in Minneapolis.  (Minneapolis/St. Paul Business Journal, 12/6/2013)
BMO Harris bracing for [1800] job cuts.  (Crain's Chicago  Business, 5/26/2016)

Related tax cuts and bonuses and whatnot posts:
American Family Insurance.  (1/26/2017)
Sinclair Broadcasting.  (12/25/2017
AT&T.  (12/24/2017) 
Bank of America (12/22/2017)

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