Broadcaster and telecommunications business Sky has awarded 70% of its UK and Ireland workforce £1,000 to help ease the pressures of the cost-of-living crisis.
The £1,000 payment will be given to UK-based staff, while employees based in Ireland will receive the equivalent in Euros. It will be made in two instalments, one in the October payroll and one in January 2023, and will amount to a total investment of £20 million for the business.
According to Sky, the payment was introduced to address the rising cost of living and energy prices which are impacting its UK and Irish staff.
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A Sky spokesperson said: “This is just one step we are taking to support our employees. We are also providing our people with access to hundreds of discounts on everyday items like groceries, clothes and electricals. These savings make a material difference to our people and we know thousands are already making everyday savings through the programme.”
Sky has followed in the footsteps of numerous other businesses, including pension services provider Cartwright Group, which awarded its staff a one-off £1,000 support payment, and West Brom Building Society, which awarded 430 of its employees a one-off £1,200.
Last month, Yorkshire Building Society also gave the majority of its employees a one-off £1,200 payment in order to boost its financial support and help with rising costs. It targeted members of its workforce earning £35,000 or less per year, as have a large number of other banks and financial institutions who have awarded their staff a similar one-off amount.