45,000 Truist workers get $1,200 bonus as coronavirus relief

All Truist employees making under $100,000 a year will get a $1,200 pre-tax bonus, the bank said Friday. It’s the latest step that the Charlotte-based bank, a combination of BB&T and SunTrust, is taking to help its workers handle economic disruption from the COVID-19 pandemic.

The bonus will go to about 78% of the bank’s workforce — roughly 45,000 people, according to spokesman Kyle Tarrance.

Earlier this week, the bank announced that it was giving employees 10 extra days of paid leave to help deal with school closings and other disruptions. Some workers will also get a reimbursement for childcare costs, and all of the bank’s 59,000 employees will get an increase in emergency child and elder care benefits.

Mortgage help

The bank also said Friday that it is encouraging economically-distressed mortgage customers to call the bank to see what options are available to help them stay current, including 90 days or more of payment forbearance.

Banks across the country have announced initiatives to help both their workers and communities deal with the effects of the pandemic. Bank of America announced Friday that it would give its branch employees $200 bonuses every two weeks, and increased overtime pay for its call and operations center workers.

Earlier this week, Truist announced that it was donating $25 million to coronavirus relief efforts. The bank also said it will match, at a 4 to 1 rate, worker donations to a fund to provide short-term help to Truist employees dealing with family emergencies or natural disasters.

This story was originally published March 20, 2020 at 5:02 PM with the headline "45,000 Truist workers get $1,200 bonus as coronavirus relief."