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UK’s Costa Coffee to give workers 9% pay rise
Global Banking & Finance Review®
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LONDON (Reuters) – Britain’s Costa Coffee will give over 15,000 hourly-paid workers an average 9% pay increase from April 1, it said on Thursday.
LONDON (Reuters) – Britain’s Costa Coffee will give over 15,000 hourly-paid workers an average 9% pay increase from April 1, it said on Thursday.
The coffee and sandwich chain, a unit of Coca-Cola Co, said its starting rate will rise from 10.70 pounds ($13.42) an hour to 12 pounds an hour – ahead of the government mandated minimum wage, which will increase by 9.8% to 11.44 pounds an hour from April.
($1 = 0.7971 pounds)
(Reporting by James Davey; editing by William James)
A pay rise is an increase in the amount of money an employee earns for their work, often reflecting their performance, inflation, or changes in the cost of living.
The minimum wage is the lowest legal hourly pay that employers can offer their workers, intended to ensure a basic standard of living.
An hourly wage is the amount of money a worker earns for each hour of work completed, commonly used for jobs that pay by the hour.
The average pay increase refers to the typical percentage increase in salaries across a specific sector or company, often used to gauge compensation trends.
A unit of a company refers to a distinct segment or division within a larger organization, often focusing on specific products or services.
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