Monday, August 8, 2022

As living standards fall, public sector strikes are fully justified

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THere’s some welcome good news for everyday bankers — the kind for whom the megabucks earned by their executives and town mates are just a distant dream, achievable only by winning the lottery.

The Unite union tweeted that it had received a one-off payment of £1,000 for three out of four Virgin Money employees. Those earning less than £50,000 a year qualify. The bank said the money would be in addition to a 5 percent pay rise that went into effect earlier this year.

It was the second wage increase of this kind recently announced in the banking sector. Santander said it would give more than 11,000 employees a 4 percent pay rise from August. This applies to anyone earning less than £35,000 and accounts for 60 per cent of the workforce.

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