Lloyds Bank will give staff a £1,000 bonus this summer to help with the increasing cost of living.
According to a memo seen by Reuters, Sky News and Bloomberg on Monday, the lender will make the extra money available in August, with executives and senior managers exempt.
It was understood that 64,182 members of staff – 99.5% of the workforce – will benefit from the one-off payment.
The memo read: “As the rising cost of living continues to impact our people and our customers we’ve been assessing the evolving outlook for inflation and considering how we can support you even further.
“With that in mind, I wanted to let you know we’ll be making a one-off payment of £1,000 to all our people in grades A – G which you’ll receive in your August pay.
“This support is designed to help you during these uncertain economic times and is in addition to the steps we’ve already taken to increase the support available both to you and our customers.”
