UK: IKEA to pay above living wage by 2016
Date: 20 Jul 2015
IKEA has said that it is to be the first national retailer in the UK to pay all of its 9,000 workers significantly above the 'living wage' rate recently announced by the government as the new mandatory minimum.
The move comes shortly after the Chancellor George Osborne announced the new living wage, giving a minimum of £7.20 per hour to workers aged 25 and over. IKEA will be going with the rate set by the independent Living Wage Foundation - £7.85. The company estimates that the change will see more than half of its employees benefit from the increase.
The company said: "Introducing the living wage is not only the right thing to do for our co-workers, but it also makes good business sense. This is a long-term investment in our people based on our values and our belief that a team with good compensation and working conditions is in a position to provide a great experience to customers."
IKEA had previously announced raises for its US employees, raising its minimum wage there $3.50 above the federal minimum wage.
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