City Of London
Lloyds Pays Staff £1,000 Each to Deal With Cost of Living Crisis
- Bank forks out £64 million to support staff with rising costs
- Move comes as inflation in UK rises at fastest rate in decades
A Lloyds Banking Group Plc bank branch in London.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Lloyds Banking Group Plc will pay staff an additional £1,000 this summer as the cost of living spirals in the UK.
Britain’s biggest mortgage lender will make the onetime payment in August to 64,182 employees -- covering all staff apart from senior executives -- according to an internal memo seen by Bloomberg.