Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Factbox-European companies offer one-off bonuses, hike pay amid cost-of-living crisis
    Top Stories

    Factbox-European companies offer one-off bonuses, hike pay amid cost-of-living crisis

    Factbox-European companies offer one-off bonuses, hike pay amid cost-of-living crisis

    Published by Jessica Weisman-Pitts

    Posted on October 10, 2022

    Featured image for article about Top Stories

    (Reuters) -Companies across Europe are offering one-off bonuses and are under pressure to increase pay to help staff with surging food and energy bills over the winter, while many are bringing forward scheduled wage negotiations.

    Here are some of the examples by sector:

    AUTOS, AIRLINES AND TRAVEL:

    BREMBO

    Brake maker Brembo in May announced a 1,000 euro ($977) gross one-off salary increase to its employees in Italy.

    STELLANTIS

    Automaker Stellantis said on Sept. 27 it would provide financial support worth up to 1,400 euros to most of its employees in France and would soon discuss a similar move in Italy.

    Italian unions representing staff at Stellantis, Ferrari, Iveco and CNH Industrial have demanded a wage rise of 8.4% in 2023.

    AMSTERDAM SCHIPHOL AIRPORT

    Amsterdam Schiphol airport is offering security workers a pay rise of 20% on average in a bid to solve ongoing staff shortages, labour union FNV said on Oct. 6.

    AIR FRANCE

    Air France on Sept. 14 said it would raise salaries for all staff by 5% in anticipation of wage talks due next year, and make a 1,000 euro bonus payment.

    RENAULT

    Carmaker Renault in September offered staff over 1,000 euros in exceptional payments.

    LUFTHANSA

    German carrier Lufthansa on Sept. 12 agreed to a 980 euro pay rise for its Germany pilots.

    BRITISH AIRWAYS

    British Airways on July 22 accepted a new pay offer for staff at Heathrow airport which included a consolidated pay rise of 8%, a one-off bonus and the reinstatement of shift pay.

    SAGA

    British holiday group Saga in September said it is offering one-off benefits to frontline staff which include an 11% pay rise and a one-off cost-of-living payment.

    The cost-of-living payment will be made in the form of two cash payments of 500 pounds each.

    FOOD AND GENERAL RETAILERS:

    TESCO

    Britain’s biggest retailer Tesco said on Oct. 5 it will raise its minimum hourly by 20 pence to 10.30 pounds ($11.60) from Nov. 13, in addition to its offer of better perks to its workers announced in September, which include free food and essentials.

    CURRYS

    British electricals retailer Currys said on Sept. 30 it had raised hourly pay rates for a third time in 13 months, adding that from Oct. 30 hourly paid staff across the UK would get a minimum rate of 10.35 pounds ($11.66), up 3.5%.

    CO-OPERATIVE GROUP

    Britain’s Co-operative Group on Sept. 29 said it is looking to give a 5.3% hike to 41,000 of its frontline workers.

    A.G. BARR

    Soft drink maker A.G. Barr said on Sept. 27 it had offered a 1,000 pound one-off cost-of-living special payment to its employees paid under 45,000 pounds.

    CARREFOUR

    France’s biggest retailer Carrefour on Sept. 22 offered a 2.5% pay hike from November this year, including a 100 euro extra payment in October.

    The offer means an overall 8.3% wage increase when compared to August 2021

    JOHN LEWIS

    British retailer John Lewis said in September it would pay a one-off cost of living support payment of 500 pounds for full-time employees.

    ALDI UK

    German-owned discount supermarket group Aldi UK said on July 25 it would pay a minimum of 10.50 pounds and 11.95 pounds in London – rises of 4% and 3.5% respectively – from September.

    SAINSBURY’S

    Supermarket chain Sainsbury’s said on Sept. 13 it will from Oct. 16 pay workers a minimum of 10.25 pounds, up from 10.00 pounds, and 11.30 pounds in London, up from 11.05 pounds.

    That’s equivalent to a pay hike of 7.9% this year for hourly paid workers.

    MORRISONS

    Supermarket chain Morrisons on June 10 said it would pay a minimum of 10.20 pounds from October, with London workers paid a minimum of 11.05 pounds.

    MARKS & SPENCER

    Retailer Marks & Spencer said on Sept. 21 it would pay a minimum of 10.20 pounds, up from 10.00 pounds, from Oct. 1. It says the annual rise is 7.4%.

    LIDL GB

    German-owned discount supermarket Lidl GB said on Sept. 22 it will from Oct. 1 pay workers outside of London a minimum of 10.90 pounds an hour, up from 10.10 pounds, and workers in London a minimum of 11.95 pounds, up from 11.30 pounds. It says the annual rise is 10% to 14.5%.

    LUXURY GOODS:

    French fashion giant LVMH announced a bonus payment for 27,000 of its staff in France on Sept. 29 that would range from 1,000 euros to 1,500 euros.

    ENERGY:

    TotalEnergies’ workers are seeking a 10% pay rise starting this year after a surge in energy prices led to huge profits.

    On Oct. 9, the company offered to bring forward wage talks due to start in mid-November in a bid to end weeks-long strikes that have disrupted petrol supplies.

    BANKS & FINANCIALS:

    NATIONWIDE BUILDING SOCIETY

    British lender Nationwide Building Society said on Aug. 15 it will pay more than 11,000 of its staff 1,200 pounds.

    HSBC

    British bank HSBC will pay some of its British workforce a one-off payment of 1,500 pounds, a memo seen by Reuters on Aug. 1 said.

    OTHERS:

    SERCO

    British outsourcing firm Serco said on Aug. 4 it would hand out an additional 9 million pounds in one-off payments to around 45,000 non-management staff.

    ($1 = 1.0233 euros)

    (Reporting by Sinchita Mitra in Bengaluru; Editing by Jan Harvey)

    Related Posts
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Top Stories

    Explore more articles in the Top Stories category

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    View All Top Stories Posts
    Previous Top Stories PostEU countries eye deal on more energy measures within weeks
    Next Top Stories PostBoE doubles potential bond buy-backs as emergency plan nears end