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John Lewis And Co-op Boost Staff Wages Amid Rising Living Costs

By Nithya Bose in Business News, posted March 9, 2024

John Lewis and the Co-op will hike the minimum wage for workers as retailers try to retain staff amid a general upward trend in living wages.

Starting in April, John Lewis, including its Waitrose stores, will set its minimum hourly wage at £11.55, with a higher rate of £12.89 for those in London.

This adjustment exceeds the forthcoming rise in the National Living Wage, which is set to reach £11.44 per hour next month.

The Co-op implements a 10.1 percent wage increase for 37,000 store workers, bringing their hourly rate to £12, and even higher in London, at £13.15.

This increase marks the Co-op's most substantial pay investment, reflecting a more than 20 percent rise in employee wages over the last two years.

John Lewis and the Co-op are distinguished by their ownership structure, being member-owned entities.

John Lewis is noted as the UK's largest employee-owned business, boasting 80,000 partners.

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This shift in pay comes as the National Living Wage is to expand its coverage to include 21 and 22-year-olds for the first time, alongside an increase in the minimum wage for younger workers.

This has prompted a wave of pay increases across the retail sector, with major players such as Tesco, Sainsbury's, Asda, Aldi, Lidl, and M&S also announcing pay rises.

Aldi initiated its wage increase in February, followed by Lidl and Sainsbury's in March.

M&S employees are slated for a raise in April.

Asda plans an interim hike to £11.44 on April 1st, with a further increase to £12.04 per hour starting July 1st.

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