Bank of America adds 1,000 apprentices and pledges $150 million to workforce training

Bank of America said it will create 1,000 extra apprenticeship slots in the next two years, covering roles in consumer banking, technology, operations and additional business units. The bank will also allocate $150 million over five years to workforce development groups that provide skill training and job placement. CEO Brian Moynihan described the expansion as a way to help develop a skilled U.S. workforce and noted support from the Department of Labor’s reform agenda.

Acting Secretary of Labor Keith Sonderling commended the effort for offering high-skill, high-pay jobs to Americans. This expansion builds on the bank’s existing hiring of over 800 apprentices annually and its broader goals to recruit 10,000 veterans and 8,000 community-college graduates in the coming years. Earlier this year the bank announced a $250 billion infrastructure financing plan and a large summer internship program.