Newcastle bank Virgin Money has told the majority of its staff they will receive a £1,000 one-off bonus to help with the soaring cost of living.
The banking group said all of its employees who are paid £50,000 a year or less, which represents 78% of its workforce, will be eligible. Around 6,000 people will receive the windfall as part of their August pay packet.
In an internal memo, chief executive officer David Duffy said: “The increase in the cost of living is on everyone’s minds, whether in political circles, in the media, or in the local supermarket. It’s also been part of many conversations among the leadership team because we know that many colleagues are experiencing additional pressure on their finances.
