Barclays Gives £1,200 Raise to 35,000 UK Staff as Inflation Hits

Barclays Plc said it will give a £1,200 ($1,460) pay raise to 35,000 of its UK-based staff, the latest lender to boost wages as the cost-of-living crisis deepens.

Employees in customer-facing, branch and junior support roles will receive the increase to their annual pensionable salary from August 1, according to an emailed statement Thursday.

The bank said it will continue “to monitor the economic situation globally and consider our approach to pay in each country in the local context.” Barclays’ annual pay review for all staff will occur in the near future and take effect from March, it added. The ...