M&S raises staff pay for second time this year to help with living costs | Marks & Spencer
Marks & Spencer increased staff wages for the second time this year and provided 4,500 staff with £250 worth of shopping vouchers as part of a £15million package to help deal with the rising cost of living.
In addition to the food it already provides to store employees, the clothing, homewares and food retailer is offering free food to workers in its warehouses, and both groups will receive free hygiene products.
Workers can also attend financial planning workshops and get meal planning advice, and continue to receive a 20% discount on M&S purchases.
According to its first autumn pay review, more than 40,000 employees will see their hourly wages rise 2% to at least £10.20 an hour from October 1 – up from the £10-an-hour rate introduced in April, the company said Rate.
The deal will pay an extra £100 a month for a full-time customer assistant compared to October last year, when workers were paid at least £9.50 an hour. The latest agreement contributed to an annual increase of 7.4%.
Stuart Machin, chief executive of Marks & Spencer, said: “Whether running a home or a business, everyone across the country is feeling the pressure of rising costs. We want to do everything we can to help relieve some of the pressure.”
The spending is the latest move by businesses to help workers deal with soaring inflation on household bills and necessities from travel to food.
John Lewis will provide free food to all staff, including casual staff, during the peak Christmas trading period and a prorated one-off £500 living cost for full-time staff.
In July, Aldi said it would raise hourly wages for the second time in a year, by at least 40p outside the M25, with a minimum £10.50 increase, and in London at £11.95, an increase of at least 3.5%.
Tesco and sandwich chain Pret a Manger have given workers two pay rises in the past year, while Asda in July raised its wages to £10.10 an hour, introducing a £9.66 fee, after unions criticised it for lagging behind rival chains. Rate. April.