NatWest offers staff pay rise, lump sum in face of inflation

NatWest has offered the bulk of its 41,500 staff in Britain a minimum 2,000 pound salary increase and a one-off payment of 1,000 pounds, to help them cope with soaring price rises, a source with knowledge of the matter told Reuters.

Companies across Britain are grappling with how much to increase salaries as the end of the year nears and when inflation is at a 41-year high of 11.1%, squeezing workers' budgets.

The pay offer would apply to 39,000 staff on lower pay bands in Britain and comes after the bank struck an agreement with union Unite. The terms are dependent on a ballot of members.