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Tesco offers staff pay advances to help with the cost of living crisis
https://www.whatjobs.com/news/united-kingdom/uk-business-news/tesco-offers-staff-pay-advances-to-help-with-cost-of-living-crisis
By Nagasunder in UK Business News, posted November 21, 2022
Tesco staff are being given pay advances to help them through the cost-of-living crisis.
The retailer, which is one of the largest private sector employers in the UK, is offering up to 25 percent of their pay in advance to 280,000 employees.
The initiative is intended to assist employees in avoiding the use of payday loans as they struggle to make ends meet in an era of rising inflation.
READ MORE: STAFF AT TESCO, MORRISONS AND M&S FACTORY TO STRIKE IN PAY ROW
Despite this, unemployment remains low, and retailers are being forced to raise wages and provide more benefits in order to attract and retain workers.
Tesco has given employees two pay raises in the last year, including one last month that increased pay by nearly 8 percent in 2022.
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Tesco UK people director James Goodman said: “We hope this helps to support colleagues, particularly in the run up to Christmas.”
Source: Retail Gazette
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