TSB have revealed they will give a £1,000 cost of living bonus to thousands of staff on the same day Aldi unveiled a second pay rise.
The cost of living is expected to soar by £830 this October, and many desperately need support with bills and essentials.
1
Inflation has hit 9.4% according to the most recent figures, up from 9.1% last month.
ONS statistics show that 89 per cent of people are experiencing a rise in living costs, up from 62 per cent in November last year.
4,500 TSB staff will be given the financial support while supermarket firm Aldi will give 26,000 workers their second pay rise since the start of the year.
The £1,000 bonus will be given to all workers at TSB earning £35,000 or less – regardless of whether they work full or part time.
And Aldi has increased its minimum pay to £10.50 an hour and £11.95 for those in Greater London, benefiting 26,000 workers.
But according to statisticians, the 4.3 per cent pay rise in June is not inline with the record-breaking rate of inflation.
Caren Evans, the national officer for trade union Unite, said: “Unite was able to successfully demonstrate to TSB that the lowest paid members of staff are struggling to meet their costs of living.”
Giles Hurley, chief executive officer of Aldi UK and Ireland, said: “Our new rates of pay maintain Aldi’s position as the UK’s highest paying supermarket.
Most read in Money
“This announcement recognises the amazing contribution our colleagues make in serving local communities across the country.”
Morrisons also agreed to raise workers’ pay wage last month, boosting it to £10.20 an hour.
It comes after Virgin Money revealed it will give a £1,000 one-off bonus to thousands of staff in a bid to help with the cost of living.
The banking group said that workers who earn £50,000 a year or less – around 78% of its employees – will get the cash.
And banking giant Lloyds Bank revealed 99.5% of its staff would also receive an extra £1,000 in their August wage packet.
New customers are also getting free cash from the banking giant, which is offering out £125 to those who open a current account.
Not to be outdone, Barclays agreed to a give their workers a £1,200 pay rise in June.
