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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Fifth Third Bancorp | NASDAQ:FITB | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.75 | 2.03% | 37.64 | 37.64 | 37.69 | 37.77 | 37.28 | 37.40 | 4,007,016 | 00:54:48 |
From May 2019 to May 2024
By Colin Kellaher
Fifth Third Bancorp (FITB) on Tuesday said it would raise its minimum wage to $18 an hour from $15, marking its second large increase in less than two years.
The Cincinnati financial-services company said the increase, effective Oct. 28, covers roughly 4,900 employees and represents an additional annual investment in its workforce of about $15 million.
Fifth Third said the increase, coupled with a January 2018 boost to $15 from $12, represents a 50% rise in its minimum wage since the beginning of last year.
The company said last year's pay increase contributed to a 16% year-over-year reduction in employee turnover in jobs most affected by the minimum wage.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 06, 2019 09:30 ET (13:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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