Nationwide Building Society today announces a one-off payment of £1,200 to more than 11,000 colleagues as it increases support during the cost-of-living crisis.
The payment will be targeted at those who earn £35,000 or less per year – 61 per cent of Nationwide’s 18,000-strong workforce – as it supports colleagues who may be the most financially vulnerable.
Those eligible will receive the payment in two equal halves with one £600 arriving in October and the other in December.
This payment is in addition to Nationwide’s annual pay review earlier this year, which gave all colleagues a four per cent pay rise.
Debbie Crosbie, CEO at Nationwide Building Society, said: “The months ahead will be worrying for many people and we’re always considering new ways to help our members. But rising prices affect our colleagues too and that’s why we’re providing this additional support.”
The move follows Barclays, Lloyds, HSBC and Santander who have already announced cost of living payments for their staff.
HSBC are offering £1,500 bonus, Barclays £1,200, Lloyds and Santander both offering £1,000.
