29th Sep 2015 12:15
LONDON (Alliance News) - Wm Morrison Supermarkets PLC Tuesday said it will increase its hourly pay rate for store staff to GBP8.20 an hour from GBP6.83 currently.
The grocer said that the pay rise will apply to all age brackets and will benefit more than 90,000 members of staff.
It said it will make an extra investment of more than GBP40 million in the improved hourly pay rate, and that supplements such as a premium for working on Sundays will also be simplified.
"We have been listening to our colleagues who told us they want their pay to be more competitive and simpler. By paying a significantly higher hourly rate, we are recognising the contribution of our excellent staff, who are so important to the revival of Morrisons," Chief Executive David Potts said in a statement.
The move comes after the UK government announced the introduction of a national living wage to begin next April for over 25s, starting at GBP7.20 an hour and eventually increasing to GBP9 an hour by 2020.
Last month, rival supermarket J Sainsbury PLC announced that it was increasing the pay of in-store members of staff of all ages to GBP7.36 an hour.
Shares in Morrisons were trading up 0.7% at 156.65 pence, while Sainsbury's shares were trading up 2.2% at 231.00p on Tuesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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