// M&S is increasing thousands of store staff pay by 7% from 1 April
// The retailer said it had invested £57m into increasing store pay making its “biggest ever investment” to date
M&S will increase the hourly pay of more than 40,000 store colleagues to help with the rising cost of living.
From April, customer assistants will have their pay increase by 7% to £10.90 an hour and colleagues in London will see their pay rise to £12.05.
The retailer said it had ploughed £57m into increasing store pay making it the “biggest ever investment” it has made to date.
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Today’s announcement means the hourly rate of pay for staff has risen by over 20% since the start of 2021.
Chief executive Stuart Machin said: “Whether you’re running a home or a business, everyone is trying to balance the reality of rising costs.
“Of course, we all hope inflation subsides, and there are some positive signs that it is doing so, but we need to help colleagues in the here and now.
“That’s why we are investing so significantly in our hourly rates of pay and why we are supporting colleagues with a continued commitment to our wide-ranging package of industry leading benefits”.
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