TK Maxx: 4% paybill increase for store managers
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Key details
- Pay award: merit awards from a 3% pot, plus 1% for equity and promotions
- Employees covered (nos.): store management (1,221), shared services distribution (241), shared services home office (234) and TK Maxx home office (284)
- Effective date: 1 June 2008
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High-street retailer TK Maxx has awarded pay rises for
staff in its store management, shared services distribution, shared services home office, and
TK Maxx home office divisions from a total paybill increase
of 4%. The home office divisions are located at TK Maxx's head
office in Watford. This increase covers some 1,980 employees, and is effective from 1 June
2008.
The 4% paybill increase comprises a 3% merit pot, resulting in merit awards ranging from nil to 3%, plus an additional 1% for equity and promotions payments.
Last year, the paybill increase for staff in the store management, shared services distribution, shared services home office, and TK Maxx home office divisions was worth 5%, with effect from 1 June 2007. This comprised 4% for merit awards, ranging from nil to 4%, and 1% for equity and promotions.
