Currys announces third pay increase in thirteen months to support employees during cost of living crisis
The increase will mean Currys employees have had a pay rise of 15.6% in the last 13 months.
Electrical retailer Currys has announced they are increasing their hourly pay for employees to help deal with the increasing cost of living.
The new pay increase will bring the minimum hourly rate up to £10.35 across the UK and £11.43 for its London branches.
The announcement means Currys more than 10,000 employees across Britain will have their third pay increase in 13 months, bringing the total increase rate to 15.6%.
The announced pay increase comes after a review by Currys’ in-house cost-of-living group made up of senior leaders from across the company.
Alex Baldock, Group Chief Executive at Currys plc, said: “Every day, I hear from colleagues who are feeling the impact of the rising cost-of-living and we’re determined to do what we can to help. That’s why I’m proud to announce that we’re again increasing our minimum pay rates.
“When it comes to more capable and committed colleagues, we’re putting our money where our mouth is. We’ve invested tens of millions over the last three years in supporting colleagues.
Whether it’s more pay (minimum pay up 38% over the last five years in the UK), better bonus schemes, skills, new opportunities and career paths, we’ve invested. I’m proud of that and we’re a better business because of it.”
Communications & Sustainability Officer, Paula Coughlan added: “Everyone has been having to deal with the increased cost-of-living and we haven’t underestimated what it means for our colleagues.
“While we have a range of ways of helping our colleagues at this challenging time, we know that boosting base pay is the most meaningful action we can take.
“We really mean it when we say that colleagues are our magic ingredient, it is thanks to their continued dedication that we’re able to help everyone enjoy amazing technology.”
The pay increase will come to effect on October 30.