Marks & Spencer to invest £57 million in store worker pay
Marks & Spencer is to increase the hourly pay of more than 40,000 customer assistants from £10.20 to £10.90 as part its biggest ever investment in front-line colleague reward.
Meanwhile, customer assistants in London will see their rate of pay rise to £12.05 from £11.25.
The move means the retailer will be investing almost £60 million in store colleague pay.
The increases will come into effect from 1 April.
Stuart Machin, chief executive at Marks & Spencer said: “Whether you’re running a home or a business, everyone is trying to balance the reality of rising costs. Of course, we all hope inflation subsides, and there are some positive signs that it is doing so, but we need to help colleagues in the here and now.
“That’s why we are investing so significantly in our hourly rates of pay and why we are supporting colleagues with a continued commitment to our wide-ranging package of industry leading benefits.”
The announcement follows the retailer’s £46.5 million investment in store worker pay during its 22/23 financial year across two separate pay rises, including M&S’s first autumn pay review. As a result, a full-time M&S customer assistant will earn nearly £150 a month more versus the same time last year.
