JPMorgan is giving tellers, other front-line employees dealing with coronavirus a $1,000 bonus

JPMorgan Chase said it was giving bank tellers and other “front-line employees” a one-time bonus of up to $1,000 to help cushion the difficulties of working during the coronavirus pandemic. 

“Many of our front line employees in our branches, operations and call centers, and other key sites who continue to go into their office or branch each day face particular challenges related to issues like childcare and transportation,” the bank said in a Friday memo to employees.

“To help them meet these challenges and to recognize their ongoing commitment to our customers, clients and communities, we will make a one-time COVID-19 special payment equal to a maximum of US$1,000,” the bank said, adding that the payments couldn’t exceed “10% of salary/regular pay or fixed pay in certain countries.”

JPMorgan’s move may help shore up morale among employees who, because of the nature of their jobs, can’t work from home and therefore may face a higher risk of exposure to the coronavirus. The special bonus, which will be paid in $500 installments in April and May, applies to branch employees or workers who have to continue working at company buildings who earn less than $60,000. 

The biggest U.S. bank by assets is also giving all employees up to five extra paid leave days and extended the carryover period of unused vacation days from last year to help workers deal with child care or dependent care issues. Schools have been closed across the U.S. in response to the coronavirus pandemic. 

This story is developing. Please check back for updates.

Source: https://www.cnbc.com/2020/03/20/jpmorgan-is-giving-tellers-other-front-line-employees-dealing-with-coronavirus-a-1000-bonus.html

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