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The Cambridge Building Society gives £1,000 to each employee to help with cost of living




The Cambridge Building Society is to give £1,000 to each of its employees to ease the pressure from the rising cost of living.

Permanent members of staff will receive the money in their accounts on Friday, regardless of role, grade, working hours or time served with the society.

The Cambridge Building Society's chief executive officer Peter Burrows
The Cambridge Building Society's chief executive officer Peter Burrows

CEO Peter Burrows said: “Inflation and interest rates have risen to levels unthinkable just a few years ago and you only need to refill your car, visit the supermarket, or pay your electricity bill to notice just how sharply prices have risen.

“We want to do what we can to support our teams through a difficult economic period, and while we appreciate that the cost-of-living crisis may persist for some time, we hope this will go some way to alleviating some of the pressure.”

The Cambridge employs about 230 full and part-time people at its central head office in Newmarket Road, Cambridge, in its 13 branches and stores, and in hybrid working patterns.

“We performed particularly well last year, due in no small measure to the talent and dedication of all of our loyal team members, so it felt right to use some of that to support everyone though this challenging period,” added Peter.

“Our ongoing success is a real team effort. Everybody contributes, everybody supports each other, so we’ve awarded everybody exactly the same payment.”



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