By Sarah Newton-John • 01 March 2023 • 12:55
M&S to pay staff more/Shutterstock Images
Chief Executive Officer of UK shopping mecca, Marks & Spencer, announced a raise in the hourly rates for customer assistants today. The move represents an investment in almost £60 million in store colleague pay.
The pay for 40,000 staff will go up from £10.20 to £10.90 and London staff will rise to £12.05 from £11.25. The new rate will be paid from 1 April.
“Whether you’re running a home or a business, everyone is trying to balance the reality of rising costs. Of course, we all hope inflation subsides, and there are some positive signs that it is doing so, but we need to help colleagues in the here and now,” said Stuart Machin, Chief Executive said today.
“That’s why we are investing so significantly in our hourly rates of pay and why we are supporting colleagues with a continued commitment to our wide-ranging package of industry leading benefits.”
Mr Machin was appointed in May 2022 and is on an annual salary of £800,000.
Due to this rise in pay, a full-time M&S customer assistant will take home roughly £150 more per month.
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