Unite the union representing staff at Barclays has today (Thursday 30) won a ‘cost of living’ increase for staff from 1st August.
Following calls from the Union and discussions with management to address the struggles staff have faced because of rising costs, Unite has welcomed the agreement of Barclays to increase annual pensionable salary of employees at grades BA1 to AVP by £1,200 (FTE).
Dominic Hook, Unite National Officer said, “Unite has won this significant financial recognition for our members across Barclays. This is a victory for Unite as the union made sure staff concerns were heard at the highest levels of the bank.
“As all employees face significant cost of living increases Unite has campaigned to ensure that this bank recognised the need to act. Unite welcomes that this announcement will increase pay and not simply a one-off payment,” he added.
“Unite representatives at Barclays have today shown to all their colleagues across the company the importance of the collective voice within the union.”
The payment will take effect from 1st August and will apply to over 35,000 Barclays employees. The increase has been targeted towards lower paid employees in line with Barclays and Unite’s Fair Pay Agenda and will see the average BA2 salary increase by 5.5% and BA3 salaries by 4.7%.
Because this is an increase in salary it will enable workers to benefit from additional pension contributions and enhanced overtime payments.
Unite is dedicated to advancing the jobs, pay and conditions of its members and will fight back against any efforts to diminish workers’ living standards.
By Saba Edwards