M&S to Boost Staff Pay to £13.41 from April Amid Cost of Living Crisis
M&S joins Aldi, Lidl, Waitrose in bringing in new £13 rule from April
Birmingham Live
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Marks and Spencer (M&S) will raise its hourly wage for UK retail staff to £13.41 starting in April, as part of a £70 million investment aimed at supporting employees during the cost of living crisis. Other retailers like Aldi and Lidl are also increasing pay rates above £13.
- 01M&S will increase hourly pay to £13.41 for UK staff and £14.74 for London staff.
- 02The total investment in staff pay by M&S amounts to £70 million.
- 03This pay rise reflects a 6.4% increase for retail colleagues.
- 04The National Living Wage will rise to £12.71 for those aged 21 and over.
- 05M&S has invested over £350 million in colleague pay over the last four years.
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Starting in April, Marks and Spencer (M&S) will implement a pay increase for its UK retail staff, raising the hourly wage to £13.41 for customer assistants and £14.74 for those based in London. This change is part of a £70 million investment aimed at providing a cost of living boost amid rising inflation. The pay rise represents a 6.4% increase, aligning M&S with other retailers like Aldi and Lidl, which are also raising their pay rates above £13. Additionally, the National Living Wage will increase to £12.71 for workers aged 21 and over. M&S has committed over £350 million to enhance colleague pay over the past four years, marking a 34% increase. M&S Chief Executive Stuart Machin emphasized the importance of investing in staff, stating that they are central to the company's operations and success.
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This pay increase will help M&S employees cope with rising living costs, providing them with greater financial stability.
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