updated on 06 July 2022
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International law firm Bird & Bird will pay its employees bonuses of £1,000 to help them combat the ongoing cost of living crisis.
The £1,000 “cost of living allowance” payments will be dished out this month to all staff who earn less than £50,000 a year, benefitting more than 300 employees including trainee solicitors and business support staff. It will be paid in addition to usual bonus payments.
The firm recently increased the salary for newly-qualified lawyers from £71,000 to £88,000 a year – a 24% raise.
Other law firms and businesses have also been sending staff home with extra bonuses to mitigate the current cost of living crisis, including Irwin Mitchell LLP and Lloyds Bank. Last month Osborne Clarke LLP revealed plans to pay its staff bonuses of at least £2,500 after posting a 19% increase in global revenues.