Banks

Wells Fargo to pay special compensation to front-line workers amid coronavirus outbreak

A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto
Chris Helgren | Reuters

Wells Fargo will join other large U.S. banks in paying out special compensation to front-line employees, according to a memo seen by Reuters.

The San Francisco-based bank said all of its domestic full-time employees who make less than $100,000 a year will receive a pre-tax payment of $600, and part-time employees will get a $300 bonus.

Front-line employees like branch workers, call center staff and technology specialists who are required to come into the office as others work from home due to coronavirus concerns, will receive an additional $200 per pay period starting April 17 for up to five paychecks, the memo said.