THOUSANDS of bank workers in the UK will receive a salary increase of £ 1,200 to combat the cost-of-living crisis.
Barclays has announced a salary increase for 35,000 of its staff in customer-oriented, branch and junior support roles.
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The increase will take effect from 1 August, bringing forward a portion of the annual wage review that would normally have taken effect in March next year.
The large bank will continue to monitor the economic situation worldwide and consider its approach to staff pay in each country.
Barclays’ next annual salary review for all staff will take place in the near future, effective from March 2023.
Barclays is the latest company to offer its staff a salary increase to help them tackle rising costs.
Last month, Rolls Royce announced that some 11,000 workers would receive a £ 2,000 bonus as well as a 4% salary increase.
And Lloyd’s Bank also offered a £ 1,000 bonus to more than 60,000 of its employees.
It works out as about 99.5% of the bank’s employees will receive the payment in their August salary.
In April, the managing director of Emerys Timber and Builders Merchants, James Hipkins, gave £ 750,000 to each of his 60 staff members – a total of £ 45,000.
Meanwhile, at Sainsbury’s general meeting next Thursday, a motion is being filed calling for all staff and contracted workers to be paid the national living wage.
This comes as energy bills and food and fuel costs skyrocket during the cost-of-living crisis.
Fuel costs have reached record levels in recent months while food prices have also continued to rise.
The rise in prices is part of the war in Ukraine and the coronavirus pandemic.