CHARLOTTE (dpa-AFX) - Bank of America Corp. (BAC), a financial services company, on Thursday announced plans to hire 1,000 additional apprentices over the next two years.
The company will expand apprenticeship opportunities across Consumer Banking, Technology, Operations and other client-facing areas.
The Bank currently hires more than 800 apprentices annually through its existing programs.
The company will also commit $150 million over five years to workforce development organizations across the U.S.
The investment builds on nearly $40 million invested in 2025 through partnerships with more than 100 universities and community colleges and over 600 nonprofit organizations.
The bank said approximately 40% of the bank's hires currently do not have a bachelor's degree.
The bank also has commitments to hire 10,000 additional people with military backgrounds over five years and 8,000 individuals from community colleges.
The company's apprenticeship programs provide paid, work-based learning opportunities and generally last about 12 months.
The company said apprenticeships can lead to industry-recognized credentials and potential promotion to non-apprentice roles.
The initiatives are part of its skills-based hiring and workforce development strategy.
In teh pre-market trading, Bank of America Corp is 0.01% lesser at $56 on the New York Stock Exchange.
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