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Aldermore hands lower-paid staff second £1,000 cost-of living payment
Aldermore will make a second single cost of living payment to staff of £1,000 to help them during the winter months and has created an internal hardship fund for staff still struggling to make ends meet.
The £1,000 payment will be made to just over 1,450 people in November and spread across the winter months, and the median salary for those receiving payments is £29,000, the lender said.
Aldermore said the payment would support colleagues as prices have remained high coming into winter.
The lender had made a one-off payment in the summer, which was split across two pay packages in April and June.
A spokesperson from the lender said that it would not be disclosing precise details of how much the initiative would cost but it was over £1.5m.
Employees facing especially difficult financial problems will also be able to apply to a specialist hardship fund for extra support.
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It said that this was to acknowledge that a wide range of financial difficulties could be hitting employees simultaneously.
Steven Cooper (pictured), CEO of Aldermore, said: “In the spring we recognised that many of our colleagues were being impacted by significant increases to the cost of living and so we decided to give those earning a lower salary a £1,000 payment to help them through.
“With prices still climbing and with winter approaching, we felt we had to act again and so we’re giving lower paid employees an additional £1,000. We’ve also setup an additional fund to help those who are facing particularly difficult financial problems.”
He added: “We hope this, together with the additional support we’ve provided to customers in recent months, can go some way to helping people through a challenging time.”