Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
M&S investing £89m to raise store workers' pay to £12 an hour
(Sharecast News) - High street retailer Marks & Spencer has announced it is to pay UK workers in the Real Living Wage of £12 per hour and make "significant improvements" in family leave policies. The company is investing £89m to raise pay for store colleagues, and a further £5m annual investment to enhance its maternity, paternity, and adoption policies.
Our vision is to be the most trusted retailer - and that starts with being the most trusted employer," said chief executive Stuart Machin. "That's why today we're making our biggest ever investment in our retail pay offer to recognise our colleagues for the vital role they play each day."
From the start of April, hourly wages for the retailer's 40,000 UK customer assistants will rise from £10.90 to £12, while those in London will see an increase from £12.05 to £13.15.
UK team support managers will see their hourly rate increase from £12.20 to £13.05, while for those in London, it will increase from £13.35 to £14.20.
In addition, the company is offering six weeks' paternity leave at full pay, and also almost doubling its maternity and adoption leave to 26 weeks - also at full pay.
"I'm delighted to announce some significant improvements to our family leave policies to support colleagues through life's big moments," Machin said.
The stock was up 0.8% at 240.7p by 1051 GMT.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.