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The Co-operative Bank: 3.65% paybill increase

Key details

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    • Pay award: merit rises from 3.65% pot

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    • Employees covered (nos.): all staff excluding senior employees (4,000)

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    • Effective date: 1 April 2004

    Around 4,000 employees at The Co-operative Bank have been awarded all-merit increases from a 3.65% pay pot, effective from 1 April 2004. Under the terms of the settlement, a flat-rate increase of 2% was awarded to all staff, unless they were "subject to advanced disciplinary proceedings or their performance did not meet the required standard".