Taylor Wimpey has announced that their employees will receive a one-off payment of £1000 to help with rising fuel bills and the cost of living this winter.
The national housebuilders said: “In advance of our annual salary review process, we recently concluded a benchmarking exercise to ensure competitive levels of pay, alongside our excellent benefits package.
“We have been closely monitoring the impact of rising inflation and the predicted increase in fuel bills this winter on the cost of living for our employees.
“In addition to the benchmarking and pay review, we will make a cost of living payment of up to £1,000 for employees receiving an annual salary of up to £70,000.”
The one-off payment was announced as Taylor Wimpey’s latest results for the half year to 3 July 2022 were published.
The company’s pre-tax profits hit £334.5million rising from £287.5million last time, with turnover dropping marginally to £2,076million from £2,196million. This represents a profit margin of 20.4% providing shareholders with interim dividends of £163m.
The report went on to say that build cost inflation was running at 9-10% but this was “being fully offset by house price growth”.
Jennie Daly, CEO of Taylor Wimpey, said: “I am pleased to report an excellent financial and operational performance with completions in the first half slightly ahead of expectations.
“This was a very good performance against a strong comparator and only possible due to the hard work of our outstanding teams across the business, and I would like to thank them for their continued commitment and efforts.
