John Lewis Partnership and the Co-op have become the latest major retailers to announce increases to their minimum pay rates for 2024.
The Co-op has reaffirmed its commitment to paying the real Living Wage as recommended by the Living Wage Foundation, increasing its minimum hourly wage from £10.90 to £12, or from £12.25 to £13.15 in London. Team leaders will also receive a 10.1% increase from £12.10 to £13.32 per hour.
Matt Hood, MD at Co-op Food, said: “We’re proud to continue to be aligned to the real Living Wage, which makes Co-op one of the top food retailers in terms of pay.
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“Co-op continues to operate in challenging environments and volatile markets, some of which we have only recently stabilised. However, we believe this investment in our colleagues is of paramount importance to recognise their outstanding commitment to serving our member-owners and shoppers in communities all across the UK.
“Additionally, we continue to offer a competitive package to all our colleagues compared to other retailers, including paid breaks, 30 per cent own brand colleague discount and industry-leading leave policies.”
From April, John Lewis and Waitrose – both owned by the John Lewis Partnership – will implement a 10% pay increase for their 80,000 store workers, taking their hourly wage to £11.55, or £12.89 in London.
A John Lewis Partnership spokesperson said it was its highest-ever pay increase, representing a £116m investment.
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Several rival supermarkets have also announced their 2024 pay rises recently, all in excess of the new compulsory national living wage rate set to apply from April 2024. Tesco said it would increase its minimum rate to £12.02 an hour, Asda to £12.04, Lidl to £13 an hour, Sainsbury’s to £12 an hour, and Aldi to £12 an hour.
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