Fifth Third Bank Announces Increase In Minimum Wage To $18 An Hour
Fifth Third Bank, which has locations and naming rights throughout West Michigan, announced that they are taking their minimum wage for all their employees to $18 an hour as of October 28, 2019, according to FOX 2 Detroit.
Back in January, the Cincinnati based bank made news when they raised their minimum wage 50% above the federal minimum wage, which is $10 an hour. Fox 2 says the new wage will affect around 4,900 employees who will see another $3 raise this year.
Fifth Third Bank told FOX 2 that the increase will add about $500 a month before taxes to each employee and is being done to "recognize contributions of employees who drive the bank's success and the success of customers."
It may be time for me to brush up on my cash counting skills.