London, 12 November 2020: Capital One has been accredited as a Living Wage Employer, meaning it is committed to paying the real living wage to ensure all employees and third-party contracted staff earn a wage that meets the real cost of living, and covers everyday needs.
The company pledges to pay the real minimum hourly living wage of £9.50 across the UK and £10.85 in London where the cost of living is higher. Both rates are an increase on the current legal minimum of £8.72 per hour for over 25s set by the government.
Mike Lynch, Vice President of Human Resources at Capital One UK, said: "Capital One UK is proud to have worked with the Living Wage Foundation and the Nottingham chapter of Citizens UK to undertake a piece of work to ensure all of our third party contractors are paid the Living Wage. We're delighted to get accredited and join other responsible businesses in ensuring that people's pay is enough to meet the cost of living. That principle couldn't be more important in these challenging times."
Laura Gardiner, Director of the Living Wage Foundation, said: "This Living Wage Week, we're delighted to welcome Capital One to the movement of almost 7,000 responsible employers across the UK, who have voluntarily committed to go above and beyond the government minimum to make sure that all their staff earn enough to live on.
"It joins thousands of small businesses, as well as major household names who recognise that paying the real Living Wage is the mark of a responsible employer, and they, like Capital One, believe that a hard day's work deserves a fair day's pay."
Pete Rogers, Community Organiser for Nottingham Citizens, said: "We are delighted to have been working these past 18 months with Capital One towards this important milestone. Ensuring that Nottingham residents earn enough to live, and not just survive, has never been more crucial and we thank Capital One for taking this leadership role in the city. We look forward to continuing our collaboration as we encourage other responsible employers to follow their lead".