£2k bonuses | Why Rolls-Royce's financial wellbeing drive will help HR as well as staff

Rolls-Royce Holdings will hand thousands of employees a £2,000 bonus and a pay rise to ease the burden of the cost-of-living crisis.

As first reported by Sky News, the engine-making arm of the British firm will raise the pay of approximately 11,000 staff (roughly 70% of its 20,000 UK workforce), as well as offering a cash lump sum to thousands more workers.

The firm said that the combined compensation package equated to a nine per cent pay rise. According to reports, the bonus scheme will cost Rolls-Royce £28million, while the backdated pay rise will take that cost to more than £40million.

‘Exceptional economic climate’

A Rolls-Royce spokesperson told City A.M.: “We can confirm that we are offering 14,000 of our UK shopfloor and junior management colleagues, or approximately 70% of our UK workforce, a cash lump sum of £2,000 to help them through the current exceptional economic climate.