Burberry is early adopting the UK Living Wage Foundation’s new wage rates. The reason for this is the currently rising cost of living, said the traditional British company on Wednesday.
The company has been a UK Living Wage Employer recognized by the Living Wage Foundation since 2016 and pays the minimum wages set by the organization. Due to the rising cost of living, Burberry decides to introduce the tariff set by the Foundation from October. The actual deadline for the new minimum wage set by the organization is May 14, 2023.
“At Burberry, our people are the focus. We are proud to be early adopters of the UK Living Minimum Wage and hope this, combined with the measures already in place, will help mitigate some of the challenges our colleagues are facing,” said Burberry Managing Director Jonathan Akeroyd.
The early implementation of the organisation’s new wage rates will raise hourly wages in London to £11.95. For the rest of the UK, the hourly wage will increase to £10.90 (approximately €12.53).
The Living Wage Foundation calculates its minimum wage independently of the UK government’s National Living Wage. When calculating wages, the organization takes into account the cost of living in different parts of the UK. Firms are free to join the organization and increase their wages accordingly.