Currys lifts pay for 10,000 UK store staff
The move means its entry-level rates will be just above the new national living wage, coming into effect from April 1.
Currys is handing its store staff another pay rise, bringing hourly rates just above new minimum wage laws coming into effect next month.
The retailer said it is increasing its pay to £10.50 an hour from £10.35 an hour for about 10,000 of its staff across the UK.
It means its starting salaries will not fall short of the national living wage for UK workers aged 23 and over, which will be set at £10.42 from April 1 and is a legal requirement for most employers.
Store workers at Currys in London will see their wages increase to a minimum of £11.50 an hour from £11.43.
The technology retailer, which has more than 300 stores, said it marks the fourth time it has raised minimum pay in a year and a half.
The average store worker at Currys earns 89p per hour as a bonus, the firm highlighted, meaning its average hourly pay rises to £11.39 per hour once the bonus is taken into account.
The top earners, accounting for about 1,000 store staff, make up to £3 an hour as a bonus.
Currys said its bonus scheme makes it one of the highest-paying retailers in the UK.
We know that investing in our colleagues is the most important thing we can do, especially with the continued cost-of-living crisis
A string of retailers have hiked their entry-level salaries in recent months in efforts to support staff facing cost-of-living pressures, and ahead of the law change.
Discounted supermarket Aldi set its minimum wage at £11.40, coming into effect from July 1 and due to impact more than 40,000 of its UK store assistants.
Its workers within London will see their pay jump to £12.85 an hour.
Meanwhile, Tesco has set its minimum wage at £11.02, and Lidl will bump up entry-level rates to £11 an hour for all store workers.
Currys added that all employees who have passed a six-month skills development programme, and who are performing well, will see their minimum hourly rate increase to £10.80 per hour or £11.80 per hour for those in London.
Paula Coughlan, chief people, communications and sustainability officer at Currys, said: “We know that investing in our colleagues is the most important thing we can do, especially with the continued cost-of-living crisis.
“This latest increase means that we are one of the highest-paying retailers in the UK.”
Meanwhile, Currys was forced to cut its profit outlook earlier this month after experiencing trading woes in Scandinavia, which were offsetting stronger sales in the UK and Ireland.
Nevertheless, the group still expects its underlying pre-tax profit to be about £104 million for the year.