December 20, 2017 / 9:45 PM / a month ago

BRIEF-Wells Fargo & Co To Raise Minimum Hourly Pay Rate To $15

Dec 20 (Reuters) - Wells Fargo & Co:

* TO RAISE MINIMUM HOURLY PAY RATE TO $15

* SAYS ‍COMPANY‘S INCREASED MINIMUM HOURLY PAY RATE OF $15 FOR U.S.-BASED TEAM MEMBERS GOES INTO EFFECT IN MARCH 2018​

* NEW PAY RATE IS AN 11 PERCENT INCREASE TO CURRENT MINIMUM HOURLY RATE OF $13.50 THAT COMPANY ANNOUNCED IN JANUARY 2017

* IN ADDITION, OVER PAST YEAR CO HAVE ADDED FOUR ADDITIONAL PAID HOLIDAYS PER YEAR

* ANNOUNCED PLANS TO GRANT RESTRICTED STOCK AWARDS TO ABOUT 250,000 TEAM MEMBERS THAT WILL VEST IN TWO YEARS SUBJECT TO GRANT TERMS

* WELLS FARGO CEO SAYS TAX REFORM IS “GOOD” FOR U.S. & CO HAS TAKEN IMMEDIATE STEPS TO INVEST IN TEAM MEMBERS, COMMUNITIES, SMALL BUSINESSES Source text for Eikon: Further company coverage:

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