Currys plc has today announced a 5.2% increase to the minimum pay rate of its hourly paid colleagues in the UK to £10 per hour, and £11.05 per hour in London, effective from 1 August 2022.
This will result in an hourly rate increase for approximately 10,000 colleagues and any colleagues who join the business after 1 August 2022 will earn the new applicable rate.
The announcement is the second pay rise in the last 12 months for the company, following Currys’ previous announcement to increase base pay for hourly paid colleagues, in line with 2021 Real Living Wage rates, last October.
Additionally, Currys has reportedly invested nearly £25m into colleague training, wellbeing, and rewards.
The company said the pay increase will not only exceed the Real Living Wage recommendation of £9.90, but is also recognising colleagues’ continued support, expertise, and flexibility as it continues the transformation of the business.
Paula Coughlan, chief people officer at Currys plc, said: “We understand the mounting pressures from the increased cost-of-living and what this means for our colleagues. We want to make sure we’re doing our part to support them, and that’s why we’re proud to offer higher hourly base pay rates across our 10,000 colleagues.
“At Currys, our colleagues are our magic ingredient and it’s thanks to them we’re able to help everyone enjoy amazing technology.”