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Statement on Amalgamated Bank’s Adoption of $15 Minimum Wage

Manhattan Borough President Gale A. Brewer issued the following statement on Amalgamated Bank’s decision to institute a company-wide $15 minimum wage:

“I congratulate Amalgamated Bank for instituting a company-wide $15 minimum wage. This is what leadership looks like, and every bank operating in New York should follow Amalgamated’s example.

“Large employers with workforces so underpaid they rely on public assistance is a story we hear all too often in connection with big-box stores and fast food chains. But the shocking truth is that 40 percent of workers in New York’s banks rely on public assistance, and nearly three quarters of New York’s bank tellers earn less than $15 per hour.

“While Amalgamated’s new policy is a major step forward, positive actions by individual employers are still no substitute for progress on statewide and nationwide minimum wage increases. We must keep fighting for Albany and Washington to raise the minimum wage.” Read more…

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