21st Jun 2022 05:38
(Alliance News) - Rolls-Royce Holdings PLC will hand out a GBP2,000 lump sum as well as a pay rise to employees to help with the UK's cost of living crisis, Sky News reported on Monday.
The jet engine maker is offering a 4% pay rise backdated to March to 11,000 shopfloor workers in its UK manufacturing plants, alongside the cash sum.
It also intends to provide the GBP2,000 lump sum to a further 3,000 junior managers.
The one-off lump payment will cost Rolls-Royce GBP28 million, while the pay rise will take the total cost to more than GBP40 million, Sky reported.
Chief Executive Warren East was said to have decided the pay rise was vital to maintain morale among the workforce.
https://news.sky.com/story/rolls-royce-hands-workers-2-000-to-ease-cost-of-living-squeeze-12637386
Shares in Rolls-Royce closed up 4.4% at 91.59 pence in London on Monday.
By Lucy Heming; [email protected]
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