Gtech give staff £1,000 cost of living payment in time for Christmas

Gtech staff are being given a one-off payment of £1,000* in time for Christmas, to help with the rising cost of living.

The announcement was made to the firm’s 162 employees after the UK rate of inflation hit a 40-year high of 11.1%.

The rising cost of living which has seen household bills soar has been attributed to inflation outstripping wage growth exacerbated by increases in taxes.

Gtech’s CEO Nick Grey says: “If there is one time of year that people need a bit of extra help, it’s before Christmas.

“I was one of seven children and I know how difficult it can be to make ends meet so we want to give our workforce as much help as we can.”

Gtech joins a number of businesses pledging to help its staff with the rising cost of living via one-off payments, including Nationwide, Virgin Money and BT.

A study by advisory firm BDO showed that half of UK businesses are giving one-off bonuses to support workers through the cost-of-living crisis. The survey involved 500 leaders of medium-sized businesses.

* The payment was pro-rata for part-time staff or those who have not yet worked for Gtech for one year.

Nick spoke to BBC Hereford & Worcester about the one-off payment. Listen again here

The story was also reported in the Worcester News here, and on the BBC here