SAN - Spain's Banco Santander hikes minimum wage to $20

Mardrid-based Banco Santander (NYSE:SAN) said Monday it will nudge up its minimum hourly wage to $20, nearly triple the federal minimum wage. The wage hike is available to Santander Bank, N.A. and SC U.S. employees who work onsite in branches, call centers and corporate offices. The wage boost is a 16% increase for Santander Consumer U.S. employees in a two-year period. The increase goes into effect for the bank’s operations teams on April 3 and on June 1 for SC Operations. “This latest pay increase recognizes their hard work and contributions and ensures we remain competitive in the marketplace as we look to attract and retain top talent,” said Santander U.S. CEO Tim Wennes.  At the beginning of February, Banco Santander said it'll meet 2022 financial targets.

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Spain's Banco Santander hikes minimum wage to $20