Bank of America announced Thursday a $150 million workforce push and a 1,000‑apprentice expansion to build a skilled American labor pool for Gen Z. The initiative spans consumer banking, technology, operations and other business units.
Bank of America Rolls Out 1,000 New Apprenticeships and $150 Million Workforce Investment
The bank will hire 1,000 additional apprentices over the next two years, adding to its existing annual intake of more than 800 apprentices. The program targets high‑growth sectors such as technology and consumer banking.
“This is one more way for us to help create a skilled American workforce for tomorrow,” CEO Brian Moynihan said in a statement. He noted the program aligns with the Department of Labor’s reform agenda.
About 40% of Bank of America’s current hires lack a bachelor’s degree, highlighting its shift toward skills‑based hiring. The bank emphasizes on‑the‑job training over traditional college degrees.
The firm also committed to hiring 10,000 military veterans and 8,000 community‑college students within five years. These hires broaden pathways beyond traditional four‑year degrees.
Last year the bank invested nearly $40 million in workforce development partnerships with over 100 colleges and 600 nonprofits. The funding supports training programs that equip workers with in‑demand skills.
Acting Secretary of Labor Keith Sonderling praised the effort, saying “American workers deserve the opportunity to build successful careers without leaving their hometowns.” He said the initiative helps employers build the skilled workforce they need locally.
Bank of America’s $250 billion infrastructure financing plan, unveiled last month, targets data centers, semiconductor facilities, power generation and transportation projects. The plan underscores the bank’s broader commitment to modernizing the U.S. economy.
In addition, the bank will bring on nearly 4,000 summer interns and campus recruits this year. The hiring round reinforces its talent pipeline for future growth.
