LBG staff to get £1,000 to assist with cost-of-living crisis
Following consultation with Accord, Lloyds Banking Group has announced today that all employees in grades A to G will receive a non-contractual cash payment of £1,000 in August salaries.
(Payments will be subject to tax and national insurance and pro-rated for employees who work reduced hours.)
You can view a video message from Accord’s Ged Nichols below
The payment, which is in addition to the Group Performance Share Awards and the pay rises negotiated by Accord and paid in April, should make a real difference to employees who are facing into the cost-of-living crisis.
Positive industrial relations get results and 63,000 LBG employees will benefit from the consultation between LBG and Accord.
Today’s news doesn’t resolve all the dissatisfaction with recognition and reward in LBG – far from it – but Accord has a positive agenda that members have given us through our recent Conference.
Despite the economic outlook remaining very difficult, we’re committed to doing everything we can to make things better for our members. So, if you’re reading this and you’re not already a member of Accord, you can join us online.
Any queries should be referred to: [email protected]