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This British bank is giving some employees an extra £1,500

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British bank HSBC plans to give some of its UK employees relief from rising prices in the form of a one-time payment added to their compensation in August.

For its lower-paid employees, HSBC will give £1,500 ($1,838), according to an internal memo seen by Bloomberg. The hope is that the one-time boost for around 17,000 of the company’s employees will offset the rising cost of living in the UK

This comes less than a month after Virgin Money, another bank in the UK, said it would give employees earning less than £50,000 ($61,268) annually, a one-time payment of £1,000 ($1,225). This payment is expected to be received by workers in late August, with the same goal of helping employees stay financially afloat.

The inflation rate in the UK hit 9.4% in June, driven by rising food and gasoline costs.

The two companies above are not alone in their attempts to help lower-paid workers. There’s been an ongoing trend of banks in the UK offering some help to employees, mostly through one-off payments.

In July, Santander said it planned to implement changes so that UK workers earning less than £35,000 ($42,888) could qualify for a raise. The company will also increase its entry-level position salaries by nearly £1,000 ($1,225).

NatWest, a bank based in the UK, made a similar moveand will raise its average pay £1,000 ($1,225) for more than 22,000 of its workforce.

In June, both Barclays and Lloyds Banking committed to giving their employees extra compensation—Barclays plans to give £1,200 ($1,470) to its UK-based staff, and Lloyds Banking Group plans to give an additional one-time payment of £1,000 ($1,225).

That’s six banks in the UK that hope their one-time extra pay and compensation increases will help employees who are struggling to adjust to current economic conditions.

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