https://www.msn.com/en-us/news/finance-companies/jpmorgan-rolls-out-dollar20-billion-plan-to-up-wages-and-hiring/ar-AAv3CvS?ocid=Money
The bank joined several other U.S. corporations that have already announced spending plans following President Donald Trump's tax overhaul that is expected to kick-start economic growth in part by offering incentives for capital investment.
Laying out the most explicit use of tax savings announced by any major bank, JPMorgan said it would increase wages for 22,000 employees by an average of 10 percent, ranging between $15 and $18 per hour, hire 4,000 employees and open up to 400 Chase branches in new cities.
The five-year investment plan comes after Chief Executive Jamie Dimon's push to ramp up investment in businesses as the bank has now finished the majority of work it needed to do to clean up troubled home mortgages and comply with tougher capital requirements imposed by regulators after the financial crisis.