HONOLULU — Hawaii’s two largest banks announced plans to give cash bonuses to most of their employees and increase the minimum wage by next month.
The Bank of Hawaii and the First Hawaiian Bank on Friday disclosed their plans to give bonuses to nearly all of their employees except the upper management, the Honolulu Star-Advertiser reported .
Bank of Hawaii will give bonuses of $1,000 each to 2,074 employees, 95 percent of its workforce, according to the bank. The cash will be paid out next week. The roughly 100 employees not receiving the bonuses are at the senior vice president level and above.
First Hawaiian Bank will pay out $1,500 bonuses in early January to 2,264 employees — its entire workforce except 11 members of the senior management team, according to the bank.
Both banks will raise their minimum wages to $15 per hour starting Jan. 1, banks said. The current minimum wage at Bank of Hawaii is $12 per hour. The higher wage will affect 565 employees.
In October, the First Hawaiian Bank increased its minimum wages for tellers to $12.75 per hour from $12. The newest increase will affect 613 employees.
The new state minimum wage will go into effect on Jan. 1, increasing the current wage of $9.25 per hour to $10.10 per hour.
Information from: Honolulu Star-Advertiser, http://www.staradvertiser.com