BofA Doubles Goal of Hiring 10,000 Workers From Low-Income Areas
(Bloomberg) -- Bank of America Corp. doubled its goal of hiring 10,000 employees from low- and moderate-income communities in a push to diversify its workforce.
The company has already surpassed a five-year target announced in 2018, and set a new goal of hiring an additional 10,000 by 2025, according to a statement Thursday.
The initiative is part of a Bank of America program known as Pathways, a partnership with non-profit organizations to recruit employees. The effort, which has been expanded to include technology and operations jobs, is one of several the company has launched to improve diversity.
“Pathways has fueled our talent pipeline by providing long-term career opportunities for people from LMI communities who often face barriers to employment,” Sheri Bronstein, the company’s chief human resources officer, said in the statement.
The program, which offers professional-development opportunities, focuses its efforts in metropolitan areas including Dallas, Los Angeles and New York City.
Bank of America, like its Wall Street competitors, has been pushing to improve diversity across the company and in its senior ranks. The lender named three women to its leadership team and new direct reports to Chief Executive Officer Brian Moynihan as part of an effort to improve gender and racial representation in the upper areas of the company.
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