Santander has become the latest bank to decide to help its staff cope with the cost of living, saying it will give more than 11,000 staff a 4% pay rise.
All staff earning less than £35,000 ($42,039), representing 60% of the workforce, will be eligible for a pay rise from August, the company said in a statement.
Santander will also increase starting wages to £19,500.
Also in the UK, NatWest Group Plc, Lloyds Banking Group, Barclays have also pledged in recent months to pay their staff more as inflation hits a four-decade high.
“The rising cost of living is affecting households across the country, so we’ve looked at how we can best support our own people, who play such important roles,” chief executive Mike Regnier said.
Source: Capital
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