Bank of America is splashing out $250 million a year on weight loss drugs for its staff: ‘We see a great impact on employees,’ CEO says
Weight-loss drugs are becoming a popular perk, with almost a third of workers saying they’d even switch jobs for it. Bank of America has them covered.
Bank of America is investing $250 million annually in weight loss drugs for employees, CEO Brian Moynihan claims the move is improving employee wellbeing. The banking giant, with a $436 billion market value, is part of a $2 billion wellness package aimed at supporting employee health. While staff may need to cover premiums or co-pays, the remainder is covered by Bank of America, effectively covering a quarter of a billion dollars each year.
CEO Moynihan acknowledges the long-term benefits may not be fully realized until years after the employees have left the company. He emphasizes the company's commitment to being a top place to work, stating his belief in the investment despite the hefty cost.
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