Joining retailers such as Morrisons, B&Q and Tesco in their choices to either make cuts on employee benefit packages or basic pay, Marks & Spencer is now being criticised for its reported decision to remove premiums of approximately 10 per cent of its shop floor workers, with plans on reducing bank holiday payments and the hourly rate of those working antisocial hours.
A majority of its 69,000 shop floor workforce is set to benefit from the supermarket chain’s new strategy when increased an pay of £8.50 per hour will come into force by next April; however, long-serving workers are expected to feel the brunt with some expected to lose up to £2,000 every year.
A spokesperson for M&S commented: “We believe our proposed new approach to pay and premiums would reward our people in a fair and consistent way, simplify and modernise our business and help us attract and retain the best talent so we can continue to provide great service for our customers. The proposals include one of highest pay rates and one of the best benefit packages in UK retail. We will now consult with our colleagues and listen carefully to their feedback.”