Oil industry business BP has announced that it will be increasing the pay of employees to line up with the living wage foundations regulations.
Announced in the businesses annual general meeting (AGM), the business confirmed that this pay rise will affect 5,000 employees across 300 locations directly employed by BP from 1 August.
This pay rise for BP employees is in line with the wages set by the Living Wage Foundation, meaning that 5,000 employees will be paid at least £10.75 in London and £9.30 elsewhere.
This exceeds the minimum living wage for employers to pay, as the real living wage rates are higher because they are independently-calculated based on what people need to get by. Living Wage Foundation encourages all employers that can afford to ensure their employers earn this wage should pay them, and not just the government minimum.
This pay increase for BP employees means that the organisation has become an accredited living wage employer.
Ryan Looney, chief executive officer at BP said: "It’s important to recognise the numerous challenges faced by our front-line staff, which have been highlighted during the current crisis."