Bank Of America Raising Its Minimum Wage To $20 An Hour

They just made replacing front line employees with automated systems more cost effective. And sure wouldnt want to be the hard working enployee who spent 10 years working my way up to $20 an hour and now the new part time intern is hired on for the same pay.

The problem with the minimum wage is it hurts the very people it is intended to help. No private company in the world will hire/retain you for long if your job is a net drain on the company. Private companies are in the business of earning a profit, not providing jobs for the good of society. Raising the minimum wage does not change this truth.

For BOA employees, if your employment doesn't produce $20+ of value per hour to the company, there's an extremely good chance you'll be out of a job in the next year or two.