- JPMorgan Chase will give a $1,000 payment to “front line” employees in branches, operations, and call centers to help them during the coronavirus epidemic, the bank told employees in a memo shared with Business Insider.
- Part-time and full-time employees who are required to work on site, and make less than $60,000 annually or are branch-based, will be eligible for the payment.
- The payment will be issued in two $500 installments in April and May.
- Chase said this week that it would close around 1,000 of its branches, but that employees who are asked to stay home would be paid for their regularly scheduled hours.
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JPMorgan Chase will give “front line” employees in its branches, operations, and call centers a $1,000 payment to help them during the coronavirus epidemic.
The bank told employees in an internal memo, shared with Business Insider, that full- or part-time employees who are required to work on site, and make less than $60,000 annually or are based in the bank’s branches, will be eligible for the payment.
“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 memo said. “To help them meet these challenges,” Chase will issue a “one-time COVID-19 special payment equal to a maximum of US $1,000.”
The payment will be issued in two $500 installments in April and May.
JPMorgan’s payment to employees comes as the White House and Congress plan to issue a similar payment to Americans to help with the economic fallout from the coronavirus.
Chase said all employees are also being given up to five extra days of paid leave, and unused 2019 vacation days will be rolled over through June 2020. The additional days are “meant to help employees manage childcare/dependent care and temporary disruption of service issues during this difficult period.”
The bank said earlier this week that it would close around 1,000 of its branches, but that employees who are asked to stay home would be paid for their regularly scheduled hours.
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