Iceland staff to share in £14.6 million pay rise
The company has simplified its pay structure by abolishing its lower pay rate for staff under the age of 18 and introducing a new higher rate for all stores within the M25.
Iceland said the move would cost the company of £14.6 million.
Chief executive Malcolm Walker said: “We are absolutely delighted to be able to reward our staff with these inflation-beating pay increases, which are richly deserved.
“Since my colleagues and I returned to Iceland in 2005, we have made great strides in improving staff morale and working conditions, and significantly increasing pay rates. In total over these six years we have raised the hourly pay rate for store staff to 33.7% and for home delivery drivers by 49.8%. Iceland achieved excellent results over the last six years, and key to this has been the outstanding performance of our staff."
Iceland, which is part owned by failed Icelandic bank Landsbanki, has been put up for sale with with bids expected to be received this month.
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