[UK] Amazon set to spend £170 million on staff pay rises

Amazon UK has announced plans to spend £170 million on two pay rises for its frontline operations staff over the next six months, Reuters reports.

The move could catch the attention of the Bank of England as it continues to closely monitor inflation pressures.

Amazon employs 75,000 workers in the UK. It said on October 9 that minimum starting pay would increase by at least a pound an hour to between £11.80 and £12.50, depending on location, from October 15.

Pay rates will reportedly increase again next year, rising to between £12.30 and £13 an hour from April 2024.

According to the internet giant, the increases mean its minimum starting pay will have risen by 20 per cent in two years and by 50 per cent since 2018.

In September, as it paused a run of interest rate hikes, the Bank of England said record growth in workers' pay - its biggest concern - was not backed up by other measures of the labour market, suggesting it expected wage growth to slow soon.

Amazon UK also announced that it has started recruiting for more than 15,000 seasonal roles across the nation for the festive period, while supermarket groups Morrisons and Aldi said last week that they were hiring 3,500 and 3,000 extra staff for the Christmas season.

Source: Reuters

(Link via original reporting)

Amazon UK has announced plans to spend £170 million on two pay rises for its frontline operations staff over the next six months, Reuters reports.

The move could catch the attention of the Bank of England as it continues to closely monitor inflation pressures.

Amazon employs 75,000 workers in the UK. It said on October 9 that minimum starting pay would increase by at least a pound an hour to between £11.80 and £12.50, depending on location, from October 15.

Pay rates will reportedly increase again next year, rising to between £12.30 and £13 an hour from April 2024.

According to the internet giant, the increases mean its minimum starting pay will have risen by 20 per cent in two years and by 50 per cent since 2018.

In September, as it paused a run of interest rate hikes, the Bank of England said record growth in workers' pay - its biggest concern - was not backed up by other measures of the labour market, suggesting it expected wage growth to slow soon.

Amazon UK also announced that it has started recruiting for more than 15,000 seasonal roles across the nation for the festive period, while supermarket groups Morrisons and Aldi said last week that they were hiring 3,500 and 3,000 extra staff for the Christmas season.

Source: Reuters

(Link via original reporting)