RIVERWOODS, Ill.--(BUSINESS WIRE)--
Discover today announced plans to raise its minimum hourly pay rate to
$15.25 for virtually all of its full-time U.S. employees as a result of
the recent corporate tax reductions after granting a $1,000 bonus to
more than 15,000 non-executive employees earlier this month.
The new minimum rate will take effect later this year and ultimately
will impact more than 7,000 employees.
The company plans to make additional investments in its people and will
increase corporate responsibility efforts in the communities in which it
operates.
“Discover employees are the heart of the company and make up the core of
our award-winning customer experience and continued business success,”
said David Nelms, Discover’s chairman and CEO. “Investing in them and in
the places we live will make our workplaces and communities stronger.”
Discover’s investment in its employees already includes benefits such as
maternity and paternity leave, 20 to 25 days of paid time off in their
first calendar year, tuition reimbursement, professional development
opportunities, employee resource groups, health clubs, on-site medical
clinics and the same healthcare plan as senior executives. Each of its
major locations in Arizona, Delaware, Illinois, Ohio and Utah has been
individually recognized among the top places to work in their respective
regions. Discover is the only major credit card issuer with 100%
U.S.-based customer service.
The company is committed to helping people achieve brighter financial
futures. It does so through its flagship Pathway to Financial Success
program, which provides personal finance instruction to high schools
across the country, support for education and donations to organizations
serving the needs of the community. Its employees provided more than
50,000 hours of volunteer time in company-sponsored events last year.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America's cash rewards pioneer, and offers private
student loans, personal loans, home equity loans, checking and savings
accounts and certificates of deposit through its direct banking
business. It operates the Discover Network, with millions of merchant
and cash access locations; PULSE, one of the nation's leading ATM/debit
networks; and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discover.com/company.
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Source: Discover Financial Services