Current Events > JPMorgan Chase using tax cut to boost wages, add jobs and increase lending

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https://www.bizjournals.com/columbus/news/2018/01/23/jpmorgan-chase-using-tax-cut-to-boost-wages-add.html

JPMorgan Chase & Co. is giving employees raises and bonuses as part of a $20 billion, five-year U.S. investment effort in the wake of the tax cuts passed by Congress.

JPMorgan (NYSE: JPM) joins a chorus of other big and regional banks and other companies giving bonuses, raises and increasing investments.

Chase said it will raise workers' pay from between $12 and $16.50 per hour to $15 and $18 per hour, depending on the local cost of living. In more expensive markets such as New York, New Jersey and San Francisco, workers will see base pay increase to $18 per hour.

The raises will benefit 22,000 Chase employees mostly working at branches and customer service employees. That includes more than 800 workers in Central Ohio, the company said.

Chase employees will also be getting a $750 bonus and Chase is cutting health insurance costs $750 per year for employees making less than $60,000.

JPMorgan also plans on hiring 4,000 new workers, opening new branches and increasing small business lending by $4 billion.

JPMorgan Chase is one of Central Ohio's largest employers, with about 18,600 area workers, according to Columbus Business First research.

Chase joins Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and a number of other banks in offering bonuses or raises to employees after the tax cuts were passed last month.

Over 99 percent of American companies are small to mid-sized businesses and account for over half of the jobs created in the U.S. This important segment of the economy drives growth and is critical to the health of our communities Doug Petno, CEO of JPMorgan Commercial Banking, said in a press release.

Chases $20 billion plan comes after Apple Inc. (Nasdaq: AAPL) announced a $350 billion, five-year U.S. investment boost stemming from the tax cuts.
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But Russia
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BREAKING: Thousands of JPMorgan Chase employees facing layoffs due to increased business expenses
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Muffinz0rz posted...

BREAKING: Thousands of JPMorgan Chase employees facing layoffs due to increased business expenses

JPMorgan also plans on hiring 4,000 new workers, opening new branches and increasing small business lending by $4 billion.
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what is with you and that one other guy constantly shilling over this stuff, OP
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Teh_Dr_Phil posted...

what is with you and that one other guy constantly shilling over this stuff, OP

I mean do you accuse Antifar of shilling over his socialism shit whenever he posts
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Learn the SHOCKING secrets of tax cuts and why democrats HATE them!
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Of course companies will be doing this at first. They need the good will and need to prove the tax cut is a good thing. That does not mean they will keep it up a couple years down the line.
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Keep it in the general.

creativerealms posted...

Of course companies will be doing this at first. They need the good will and need to prove the tax cut is a good thing. That does not mean they will keep it up a couple years down the line.

I surely will trust people who say this, especially after they fear mongered about how the tax cuts would actually be tax increases on the middle class and etc.
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Keep it in the general.
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what general
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__aCEr__ posted...

Keep it in the general.

Anteaterking posted...

Keep it in the general.

What the fuck is this shit?
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FLUFFYGERM posted...

Muffinz0rz posted...

BREAKING: Thousands of JPMorgan Chase employees facing layoffs due to increased business expenses

JPMorgan also plans on hiring 4,000 new workers, opening new branches and increasing small business lending by $4 billion.

Oh

In my defense, I didn't read the article
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Spooking posted...

creativerealms posted...

Of course companies will be doing this at first. They need the good will and need to prove the tax cut is a good thing. That does not mean they will keep it up a couple years down the line.

Raising taxes causes corporations to fire employees and flee the country if they are able to. Lowering taxes causes corporations to give higher wages/bonuses and increase growth.

Yep. Due to the tax cut, Apple is bringing back hundreds of billions. And they're investing half a trillion over five years. Into building a new state of the art campus and hiring tens of thousands of highly skilled people who will generate hundreds of millions in tax revenue each year.

It literally is a massive win thanks to Trump.
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Muffinz0rz posted...

FLUFFYGERM posted...

Muffinz0rz posted...

BREAKING: Thousands of JPMorgan Chase employees facing layoffs due to increased business expenses

JPMorgan also plans on hiring 4,000 new workers, opening new branches and increasing small business lending by $4 billion.

Oh

In my defense, I didn't read the article

most of yall dont. ive lost count of the nunber of times Antifar and etc shitposted about socialism or w/e without completely reading his own damn link

he has a topic open right now about a Diaper company laying off people.
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FLUFFYGERM posted...

Muffinz0rz posted...

BREAKING: Thousands of JPMorgan Chase employees facing layoffs due to increased business expenses

JPMorgan also plans on hiring 4,000 new workers, opening new branches and increasing small business lending by $4 billion.

I would like to point out that if they fire 4,000 workers and hire 4,000 workers, they still can tout that they hired 4,000 new workers.

Not to say they're doing that, but every business hires new people every year. I just wanted to point out that PR is usually engineered statements.
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AngelsNAirwav3s posted...

But Russia

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Godnorgosh posted...

FLUFFYGERM posted...

he has a topic open right now about a Diaper company laying off people.

As he should. REMercsChamp needs to be made aware so he can complain that the diaper workers went from making diapers to wearing them.

read the flopic. antifars analysis was junk
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