Currys is investing a further £13m into staff pay to boost salaries for its hourly-paid workers.

Staff will now earn £12.33 per hour on average, with top performers pulling in a £13.95 an hour average, following a 9.5% rise in their hourly rate.

The electricals retailer said some workers would earn even more as the potential for its bonuses was uncapped.

Additionally, Currys is increasing its minimum pay rates to £11.50 per hour, or £12.50 for those working in London.

The business said it had increased its minimum hourly pay by 29% over the past three years.

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Currys claimed it was continuing to invest in building capability for staff through “an extensive programme of learning and development,” designed to increase the skills and earning potential of workers.

Currys has recently found itself at the centre of a bidding war, rejecting a second takeover bid from Waterstones owner Elliott last week, which it claimed again “significantly undervalued the company”.

The bookshop owner had submitted an improved offer of 67p-per-share on Tuesday, up from its initial 62p-a-share that valued the retailer at £700m.

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