WASHINGTON (dpa-AFX) - Consumer financial services company Synchrony Financial (SYF) announced Tuesday it will raise its minimum wage to $20 per hour for all hourly employees in the U.S. and Puerto Rico, effective in August.
Synchrony's new hourly minimum wage of $20 will benefit more than 5,000 full- and part-time employees. The company also committed to fund its 2021 bonus program so that full-time hourly employees would be eligible for a $1,000 bonus.
This action furthers the company's commitment to a culture of caring and providing its employees with competitive wages and progressive benefits.
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