US: Bank of America Associate Dies After Allegedly Working 100 Hours Per Week, Bank Dismiss Claims
The work culture that permeates many financial firms, including Bank of America, has been the target of sharp criticism on Wall Street following the death of Lukenas. He left behind a wife and two young children.
New York, May 11: According to reports, the Wall Street bankers are outraged by the sudden death of a 35-year-old Bank of America colleague, and many blame the toxic work culture, particularly the extended work weeks, for his passing in New York, United States. Leo Lukenas III, a former Green Beret and member of the bank's Financial Institutions Group, passed away on May 2 from 'acute coronary artery thrombus', according to the New York Post. Three days prior to his untimely demise, he had reportedly been working about 100 hours a week for many weeks on a $2 billion merger.
The work culture that permeates many financial firms, including Bank of America, has been the target of sharp criticism on Wall Street following the death of Lukenas. Lukenas left behind a wife and two young children. Woman Quits Job Over Toxic Work Culture, Changes Everyone's Passwords in Bittersweet Revenge.
Bank employees criticised Lukenas' supervisor, Gary Howe, who is co-head of the financial institutions group, according to various reports. In an attempt to barter for better working conditions, several workers apparently even texted one another about a potential strike. Conversely, Bank of America has stated that it does not intend to pursue legal action against Howe or look into claims made by its junior bankers that they are required to work 100-hour work weeks. Did Toxic Newsroom Culture Take Away Life of Journalist Satish Nandgaonkar? Mumbai Press Club Probe Reveals Shocking Claims.
"We are very saddened by the loss of our teammate. We continue to focus on doing whatever we can to support the family and our team, especially those who worked closely with him", the bank said in an official statement. several Wall Street bankers are quick to attribute his death to a society that prioritises riches above wellbeing. His passing reignited a long-running discussion on Wall Street over a bank's responsibility to its employees.
(The above story first appeared on LatestLY on May 11, 2024 12:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).