LONDON (dpa-AFX) - Marks and Spencer Group plc (MKS.L), Tuesday said that the company had made an investment of 89 million pounds for retail pay, along with an annual investment of 5 million pounds for maternity, paternity and adoption leave policies for its U.K. staff, effective April 1.
The customer assistants outside London would receive a pay of 12 pounds per hour, whereas the same working in London stores would receive a pay of 13.15 pounds per hour.
The company would pay 13.05 pounds per hour to team support managers outside London and 14.20 pounds per hour to the same working in London.
The retailer plans to offer other employee benefits such as life cover up to four times of salary, free eye tests and six physiotherapy sessions, up to 12 weeks of fully paid neonatal leave, 20 percent discount on the branded products, and pension contribution of up to 12 percent.
The company also intends to offer a fully paid paternity leave for six weeks, and maternity and adoption leave for 26 weeks.
Currently, Marks and Spencer's stock is climbing 1.30 percent, to 242 pence on the London Stock Exchange.
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