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Currys invests £13 million in staff pay hike

By Nithya Bose in Business News, posted March 5, 2024

Currys has announced a £13 million investment in staff wages, significantly increasing the pay for its hourly employees.

This adjustment means that the average hourly wage for staff will rise to £12.33.

The top-performing employees could earn an average of £13.95 per hour, marking a 9.5 percent increase in their hourly pay.

The electronics retailer is setting its minimum wage at £11.50 per hour nationwide, increasing to £12.50 for those in the London area.

Over the last three years, Currys has raised its minimum hourly pay by 29 percent, emphasising its commitment to enhancing employee welfare.

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The company also focuses on employee development, offering a comprehensive learning and development program to boost staff skills and their potential for higher earnings.

This news comes amid Currys being targeted for acquisition, having recently rejected a second takeover offer from the owner of Waterstones, Elliott, stating that the proposal significantly underestimates its value.

Despite an increased bid of 67p per share, up from an initial 62p, which valued Currys at £700 million, the company has rejected these offers.

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