Currys confirms third hourly pay increase in 13 months
It said that while the last hourly rate rise only came into effect last month, the current economic climate and feedback from colleagues has led Currys to boost rates again
Currys has announced an additional rise for hourly paid colleagues in the UK by a further 3.5% to £10.35 per hour (£11.43 per hour in London), the third rise in the last 13 months, one month after the latest rise came into effect.
In total, Currys said it has increased base hourly pay by 15.6% in just over a year. The announcement follows an “extensive” review by Currys’ cost-of-living group, set up earlier this year and made up of senior leadership from across the business, who have been developing Currys’ response to support colleagues.
It said that while the last hourly rate rise only came into effect last month, the current economic climate and feedback from colleagues has led Currys to boost rates again now, ahead of and in addition to the next regular pay review.
Alex Baldock, group chief executive at Currys, 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.”
Paula Coughlan, Chief People, Communications and Sustainability officer at Currys, said: “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.”
