Michael Corbat, CEO, Citigroup, speaking at the Planet Financial Forum in Davos, Switzerland, January 21, 2020.
Adam Galica | CNBC
Citigroup CEO Michael Corbat reported the lender will send $1,000 awards to some staff to compensate them for the “monetary burden” of doing work during the coronavirus pandemic.
“We are heading to give a lot more than 75,000 colleagues globally with a special compensation award to enable ease the economic stress of this situation,” Corbat said Monday in a memo to team. “In the U.S., an award of $1,000 will be offered to suitable colleagues who make $60,000 or less in foundation income. Outside the U.S., the distinctive award will be dependent on neighborhood market place payment concentrations.”
Citigroup, the 3rd biggest U.S. bank by assets, is following rivals JPMorgan Chase and Lender of The usa in giving reduced-paid out staff cash bonuses through the pandemic. The go could shore up morale between bank personnel like tellers who, simply because of the nature of their roles, can not do the job from household like other colleagues can.
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