[UK] 40,000 M&S staff getting pay rise in wake of cost of living crisis

Leading British retailer Marks & Spencer has announced that it will increase its minimum wage by more than 5 per cent to £10 an hour from April 1 to help employees cope with the cost of living increase, Proper Manchester reports.

The rise will take the pay of more than 40,000 members of staff to above the legal minimum wage, which is increasing to £9.50 per hour for workers over the age of twenty-three in April. A financial management advice service will also be included.

In addition, M&S will reportedly offer free health checks for all staff members, including benefits such as an online GP service and health check screening. 

Speaking about the pay increase, Steve Rowe - the chief executive of M&S - said, “The contribution our teams have made to support our customers and each other every day through some really challenging times has been remarkable.

“By once again increasing our investment into one of the best all-round reward offers for store colleagues across retail, we’re making sure that every colleague, whatever they do and wherever they work, is properly rewarded and supported at M&S.”

The pay bump follows similar moves by other retailers, such as Sainsbury’s which increased its minimum wage to £10 in January. And this month, Aldi increased its minimum hourly rates for shop workers to £10.57 an hour from £9.55 nationally. 

The pay increases come as the UK braces itself for an impending cost of living crisis; in December inflation leapt to 5.4 per cent - the highest rate since 1992 - and the price cap for energy bills is expected to rise by an estimated 46-56 per cent in April.

Experts have warned that the cost of living will only get higher in the coming months in what has been dubbed a ‘national crisis’ and have urged the government to act ‘immediately’. 

At the start of February, Rishi Sunak announced that millions of Brits will get a £150 discount on their council tax bill in April and a further rebate of £200 in October off their energy bills.

The overall £350 payment will then have to be repaid in £40 instalments over a period of five years, from April 2023.

Source: Proper Manchester

(Quote via original reporting)

Leading British retailer Marks & Spencer has announced that it will increase its minimum wage by more than 5 per cent to £10 an hour from April 1 to help employees cope with the cost of living increase, Proper Manchester reports.

The rise will take the pay of more than 40,000 members of staff to above the legal minimum wage, which is increasing to £9.50 per hour for workers over the age of twenty-three in April. A financial management advice service will also be included.

In addition, M&S will reportedly offer free health checks for all staff members, including benefits such as an online GP service and health check screening. 

Speaking about the pay increase, Steve Rowe - the chief executive of M&S - said, “The contribution our teams have made to support our customers and each other every day through some really challenging times has been remarkable.

“By once again increasing our investment into one of the best all-round reward offers for store colleagues across retail, we’re making sure that every colleague, whatever they do and wherever they work, is properly rewarded and supported at M&S.”

The pay bump follows similar moves by other retailers, such as Sainsbury’s which increased its minimum wage to £10 in January. And this month, Aldi increased its minimum hourly rates for shop workers to £10.57 an hour from £9.55 nationally. 

The pay increases come as the UK braces itself for an impending cost of living crisis; in December inflation leapt to 5.4 per cent - the highest rate since 1992 - and the price cap for energy bills is expected to rise by an estimated 46-56 per cent in April.

Experts have warned that the cost of living will only get higher in the coming months in what has been dubbed a ‘national crisis’ and have urged the government to act ‘immediately’. 

At the start of February, Rishi Sunak announced that millions of Brits will get a £150 discount on their council tax bill in April and a further rebate of £200 in October off their energy bills.

The overall £350 payment will then have to be repaid in £40 instalments over a period of five years, from April 2023.

Source: Proper Manchester

(Quote via original reporting)