Lloyds offers staff 1,000 pounds to ease cost of living crisis

LONDON (Reuters) – Britain’s biggest domestic bank Lloyds told staff on Monday it would give the vast majority of them a one-off 1,000 pound ($1,220) payment to help combat the soaring cost of living.

The offer has been made to around 64,000 of the lender’s staff, with executives and senior managers exempted from the payout, according to a memo seen by Reuters.

Lloyds had come under pressure to help its low paid workers cope with rocketing inflation, with union Unite demonstrating outside its annual general meeting in Edinburgh in May.

($1 = 0.8189 pounds)

(Reporting by Iain Withers, editing by Lawrence White)