Tesco PLC announced on Tuesday that after reaching an agreement with the union workers, it will increase 9.07% the hourly pay rate to leave it at £12.02, starting in April.
According to the British multinational grocery retailer, this salary increase is considered as a "record investment," as it marks a cash injection of £300 million "in hourly colleague pay."
"This represents another significant investment in our colleagues, building on the last two years of investment. We recognize the amazing work our colleagues do every day in serving our customers and we're really proud to offer such competitive rates of pay alongside a great range of exclusive colleague benefits," CEO of Tesco UK Matthew Barnes said.
