Swedish furniture giant Ikea has announced a pay increase and wellbeing support package for co-workers in Ireland to support them during the cost-of-living crisis.
Hourly paid co-workers will receive a boost in earnings as the hourly rate is being increased to €13.85.
The Living Wage Technical Group, which is supported by trade unions and charities, said last month that the hourly living wage rate should increase to €13.85 per hour to reflect the rising cost of living.
Salaried Ikea co-workers will receive a pay rise of 6 per cent on average, while eligible members of the team will receive a bonus before Christmas.
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"We have a fundamental misunderstanding of our housing need."
The retailer is also ramping up its existing benefits package for co-workers, investing in additional financial, physical, and mental support measures.
These include a doubling of the co-worker discount to 30 per cent across 2,000 home-furnishing articles which help to reduce energy, water and food waste, more free food options in the co-worker restaurant, and travel season ticket discounts.
Employees of more than six months will have the option of a flexible, “no questions asked” loan of up to €1,200, or up to 10 per cent of their salary.
