National Living Wage news and archive

M&S invests 57 million pounds to increase pay for retail store staff

Marks and Spencer is investing 57 million pounds in its front-line retail staff, marking the retailer’s biggest-ever investment in its shop workers. In a statement, M&S said that from April 1, more than 40,000 store workers will see their hourly rate increase to 10.90 pounds, up by 70 pence. Employees in London stores will see their hourly wages...

Retail

Retail jobs in London remain low paid

Thinking of a career in retail? In London, over 700,000 retail jobs are classified as low paid, approximately double the figure from a decade ago. According to figures from the New Policy Institute (NPI), a new study funded by Trust for London has revealed nearly 20 percent of jobs in London are low paid. Over a quarter of jobs flagged as low...

Retail

Small businesses struggle to meet the living wage

Research from the Federation of Small Business has found that small firms are having to raise prices, reduce staff working hours and cut investment to account for the new National Living Wage rise increase. The Q2 Small Business Index reveals that 47 percent of small businesses cite wages as the main contributor to the rising cost of doing...

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Business

Marks & Spencer pay cut row continues with petition handover

Employees at Marks & Spencer continue to voice their concerns over the high street retailer's proposed pay cuts. Over 80,000 individuals have signed an online petition urging M&S to axe it prosed pay cuts, which were drawn up to help offset the increase costs of the National Living Wage. The petition is set to be delivered to M&S on Thursday by...

Fashion

Retailers challenge national living wage

London - While the government has thus far been successful in its policy to increase the UK's national living age, some businesses and retailers are keen for the policy, set to come into full affect by 2020, to be revised or abandoned. According to the Financial Times, 16 trade associations are challenging the policy, having written to new...

Retail

Independent retailers to cut staff amid wage increase

Retailers are feeling the economic pinch following the introduction of a national living wage that was implemented last month. Wholesaler Palmer and Harvey (P&H) conducted research via a survey of 1000 retailers, which found one in three independents planning to reduce staff hours or increase prices, while one in four say they will cut staff...

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Business

N Brown to pay National Living Wage to under 25s

As the National Living Wage has come into effect from April 1, 2016 onwards, under which the minimum wage is set at 7.20 pounds per hour for everyone above the age of 25, British e-tailer N Brown has announced it aims to increase the minimum wage for all its employees, regardless of age. The online retailer, known for fashion labels such as...

Retail

New survey shows pressures of National Living Wage

A new survey by global business advisory firm AlixPartners of company leaders in the retail and leisure sectors has found that only 24 percent believe that the new National Living Wage will have an “overall positive impact” on their industry. The UK National Living Wage comes into effect in April and will be set at 7.20 pounds, rising to around...

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Business

Consumer spend to slow in 2017 due to a 'perfect storm'

Consumer spend may be on the fast track, increasing at the fastest rate since the financial crisis, but this bubble stands to burst in the future as inflation and new austerity measures are introduces, warns forecasters. According to a report from economic forecasting group EY Item Club, dropping food and fuel prices will see more consumers with...

Retail

Retail sector to be most affected by the National Living Wage

Retail, wholesale and hospitality sectors are going to be long the most “severely affected” by the National Living Wage (NLW), according to new research conducted by the Social Market Foundation in partnership with Adecco Group. The report analysis the potential impact of the new rate on businesses across the UK and found that a large number of...

Retail

Tesco to increase pay above National Living Wage

Supermarket giant Tesco is to give a pay increase of up to 3.1 percent to its employees in the UK, taking the hourly rate of pay for established employees to 7.62 pounds an hour. The two-year deal includes a rise in the base rate of pay for all store staff and will mean established staff will receive more than the Government’s new National...

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Business|UPDATE

Sports Direct pledges staff 10 million pound pay rise

After Mike Ashley's Sports Direct failure to pay its staff the minimum wage came to light following a series of investigations into the retailers working conditions was released, Ashley has stepped forward to rectify the situation by pledging a 10 million pound pay rise. The sportswear retailer has promised to increase pay by approximately 15...