logo
  

Ally Financial Increases Minimum Hourly Wage By 18% To $20

Ally Financial Inc. (ALLY) said Thursday that it will increase its minimum hourly wage to $20 from $17, effective September 13.

The increased minimum wage and related adjustments will benefit more than 2,300 current teammates, the company said.

Ally also announced that all eligible employees will be awarded Ally stock annually through the company's #OwnIt Annual Grant Program. Awarded grants are dependent on the financial performance of the company and evaluation by the company's board of directors; they are expected to be issued annually in January.

Prior to the launch of this annual program, eligible Ally teammates were awarded company stock in both 2020 and 2021.

In addition, Ally noted that it will hire more than 1,000 roles before year end, including approximately 500 roles in technology. Ally will donate up to $50,000—$250 for every technology hire made through December 31, 2021—and split the funds between Women Who Code and Blacks in Technology.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Oilfield services company Schlumberger Ltd. reported Friday a profit for the fourth quarter that surged 61 percent from last year, reflecting 13 percent higher revenues amid growth across all segments and regions. Both adjusted earnings per share and quarterly revenues topped analysts' estimates. Twitter Inc. has launched a new feature to allow some users of its Blue subscriber service to keep non-fungible tokens or NFTs as their profile pictures. Twitter Blue is now available in the US, Canada, Australia, and New Zealand. NFT is a crypto token, which is non-fungible, meaning that it can neither be transferred like money nor replaced with something else. Frozen Food Development is recalling specific lots of Lidl branded 12-ounce packages of Frozen Chopped Spinach citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The product comes in 12-ounce poly bags, and items included in the recall are marked with lot # R17742 or R17963 on the back of the poly bag with a best by date of 09/10/23.
RELATED NEWS
Follow RTT