LONDON, June 30 (Reuters) – Barclays (BARC.L) is giving 35,000 of its employees in Britain a 1,200 pound ($1,450) annual pay rise to assist to ease the affect of the price of dwelling disaster, the financial institution stated on Thursday.
The pay rise – which brings ahead a part of the financial institution’s annual pay evaluate – will apply to employees in customer-facing, department and junior assist roles and take impact from August 1, it stated.
Worker union Unite welcomed the pay rise, saying it was preferable to employees getting a one-off cost.
Register now for FREE limitless entry to Reuters.com
Employers are going through rising stress to assist mitigate the affect of worth rises on employees, with inflation in Britain hitting a 40-year document of 9.1% final month. learn extra
Barclays’ rival Lloyds (LLOY.L) gave the overwhelming majority of its employees a one-off 1,000 pound cost to assist employees deal with the hovering price of dwelling earlier this month. learn extra
Barclays’ annual pay evaluate would usually come into impact in March subsequent yr. The rest of the pay evaluate will nonetheless happen, the financial institution stated.
($1 = 0.8260 kilos)
Register now for FREE limitless entry to Reuters.com
Reporting By Iain Withers and Sinead Cruise; Modifying by Jan Harvey
: .
