Sainsbury’s to spend 200 mln stg raising workers' pay

Elevating the wages: British supermarket chain Sainsbury's announced on Thursday a £200 million investment aimed at elevating the wages of 120,000 employees above the forthcoming government-mandated national minimum wage. 

As of March, the company will adjust hourly pay rates, setting them at £12 for employees outside of London and £13.15 for those within the capital. This increase represents a notable rise from the current rates of £11 and £11.95, respectively.

This move by Sainsbury's, a prominent private sector employer in the UK, precedes the scheduled increment of Britain's National Living Wage in April 2024. The upcoming wage hike will see the National Living Wage surge by 9.8 per cent, reaching £11.44 per hour. This adjustment positions the UK's minimum wage among the most generous relative to average earnings compared to other advanced economies.

(With Reuters inputs)