The 21-year old intern Moritz Erhardt dropped dead on August 20 in London after allegedly working a series of 24-hour shifts. Officials are now investigating whether the German national is really worked to death by his superiors in Bank of America.
The Bank of America intern was found dead at Claredale house, a residential facility for students situated in East London.
"He was popular amongst his peers and was a highly diligent intern at our company with a promising future," Bank of America said in a statement. "Our first thoughts are with his family and we send our condolences to them at this difficult time."
The student's death was attributed to the long strings of around-the-clock shifts. According to the reports, the intern had finished 24-hours shifts in three consecutive days. In an anonymous website called the wallstreetoasis.com, somebody said that "He was found dead in the shower by his flatmate. Intern at BAML [Banking of America and Merrill Lynch] who went home at 6am three days in a row,"
The Bank of America intern's death caused a debate regarding the number of hours that companies require their interns to finish. Public clamor for politicians to look into the issue has been as pressing as ever.
European Employment Commissioner Laszlo Andor tweeted, "Exploitation of the youth is unacceptable" as a reaction to Erhardt's untimely death.
The co-founder of Intern Aware, a non-profit organization pushing for paid and fair internships criticized the number of hours that interns are usually subjected to especially in companies in the city. However, interns have no choice but to comply because good internships usually lead to a good position in the company as well.
"...push themselves because they want an offer with the bank and the chance of a great career and great money," said a former intern in a USA bank who landed the job after her internship.."
For more information regarding this story, here is a YOutube report published by TYT:
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