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Retailer Lidl UK raises staff pay for third time in 12 months
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LONDON (Reuters) – The British arm of German supermarket group Lidl said it would lift wages by over 3% in June, giving thousands of workers a third pay rise in 12 months.
LONDON (Reuters) – The British arm of German supermarket group Lidl said it would lift wages by over 3% in June, giving thousands of workers a third pay rise in 12 months.
Lidl said on Friday it would raise pay for staff across Britain to 12.40 pounds per hour from 12 pounds per hour, while London-based staff would receive 13.65 pounds per hour, up from 13.55.
Pay rises at big employers like Lidl, which employs 32,000 people across Britain, are closely watched by the Bank of England, which said on Thursday it remains on guard because of still-strong growth in wages which add to inflationary pressure.
John Lewis and Co-op in March announced pay rises of 10% after the government raised the national living wage to 11.44 pounds an hour.
Lidl, part of Germany’s Schwarz retail group which is Britain’s the sixth biggest supermarket chain with an 8% share, said its latest increase would mean its staff continue to receive “industry-leading pay”.
(Reporting by Sarah Young; editing by William James)
Compensation refers to the payment or benefits provided to employees in exchange for their work. This can include wages, bonuses, and other forms of financial remuneration.
Inflation is the rate at which the general level of prices for goods and services rises, leading to a decrease in purchasing power. It is often measured by the Consumer Price Index (CPI).
A pay rise is an increase in an employee's salary or wages, often reflecting their performance, cost of living adjustments, or changes in the job market.
Employment opportunity refers to the availability of jobs and the potential for individuals to gain employment in various sectors of the economy.
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