- In an effort to mitigate the impacts of surging inflation, Barclays ( NYSE: BCS ) is increasing compensation for 35K of its staff located in Britain, Reuters reported Thursday.
- As part of the U.K.-based lender's annual pay review, Barclays ( BCS ) bumping up workers' annual compensation by 1.200 pounds ($1,450) starting on August 1, the bank told Reuters.
- The increased pay, which comes as the U.K. experiences the highest level of consumer price inflation in 40 years, will be directed to roles in customer-facing, branch and junior support, Reuters noted.
- Last week, (June 24) Barclays expanded Britain's housing market reach through Kensington Mortgage acquisition .
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Barclays bumps up pay for 35K workers amid heightened inflation - Reuters