Rolls-Royce hands workers £2,000 cash boost to counter cost of living crisis

Rolls-Royce has handed a £2,000 bonus to almost three-quarters of its staff in order to help them with the cost of living crisis.

According to Sky News, the Derby-based manufacturing giant has also handed out a 4% pay rise, backdated to March, to 11,000 shop floor workers across its UK plants.

Rolls says it will extend the £2,000 offer to another 3,000 junior managers in due course.

The firm employs 20,000 people in the UK.

The news came in a memo circulated to staff on Monday (June 20). It said that junior managers will recieve the cash boost in August, with union members benefiting once the Unite union had accepted the offer.

Reports suggest the bonus will equate to a 9% pay rise for Rolls staff, which will cost the company over £40m.