More than 35,000 staff at banking giant Barclays are to receive a £1,200 pay raise to help with the cost-of-living crisis. The high street lender said the salary hike, which will take effect from August 1, is for customer-facing and junior employees.
It brings forward an annual pay review which would normally have taken effect in March next year. There will be the usual wider group annual pay review for all staff in the "near future", which will take effect in March 2023, the company said.
A spokesperson for Barclays said: "Barclays will continue to monitor the economic situation globally and consider our approach to pay in each country in the local context." Unite welcomed the move, which it said came after the union held talks with Barclays management and called for it to take action to help staff facing soaring costs.
