'Record investment' | Asda reveals bumper pay rise for staff despite stunted growth

Asda has said it will increase its staff wages by 8.4% despite stunted growth compared to competitors, indicating the firm’s commitment to employee attraction and retention.

The supermarket giant revealed it will be investing £150million in giving its 120,000 employees an 8.4% pay increase, which will take Asda retail workers’ hourly rate from £11.11 to £12.04, and to £13.21 for its employees working within the M25.

Asda, which is partly owned by the US group Walmart, is one of many supermarkets to raise their wages ahead of an increase to the national minimum wage from £10.42 to £11.44, which is set to come into effect on April 1.

The retailer said it would give staff an interim increase to the new national minimum wage in April before launching the higher wage increase in July.