Thousands of workers are poised to get a £1,000 bonus as a major bank reveals a cost of living pay boost. Lloyds will give out £1k bonuses to staff.
64,182 of its employees are eligible It said: “As the rising cost of living continues to impact our people and our customers we’ve been assessing the evolving outlook for inflation and considering how we can support you even further.”
It added: “This support is designed to help you during these uncertain economic times and is in addition to the steps we’ve already taken to increase the support available both to you and our customers.”
READ MOREReview: Kings of Leon at Resorts World Birmingham – an arena rock masterclass
It comes amid a worrying Cost of Living crisis nationwide, with rising council tax bills, National Insurance contributions, skyrocketing food and fuel prices, soaring energy bills and even hikes in the likes of subscription services like Netflix, and also mobile phone contracts.
Sharon Graham, Unite’s general secretary, responded: “Unite members’ collective action has put desperately needed money into the pockets of staff on the front line.
“This victory for Unite’s LBG pay campaign is an important step in changing the bank’s pay structures. Staff will welcome the £1,000 bonus but there is still a long way to go to eradicate low pay in that is one of the economy’s most profitable sectors.”
Stay up to date with all the latest news and opinion on days out, nights out, shopping and plenty more with our Daily What’s On Email update newsletter – and it’s completely free.