UK law firm Irwin Mitchell is set give its staff a £900 bonus each, to deal with the UK’s cost-of-living crisis.
Staff working at the firm are set to receive a one-off payment on top of their April salaries to cover the costs of higher food and fuel prices.
The firm said the one-off payments will be paid out to all UK staff below partner level, as it noted that the payments will not have any impact on future pay rises or bonus calculations.
An Irwin Mitchell spokesperson said: “In light of the challenging external circumstances affecting the cost of living, we’ve taken the decision to make a one-off payment of £900 in April’s salary to most colleagues.”
“We’re making this payment as an acknowledgement of the challenges some colleagues are currently facing from increases in the cost of living, in particular fuel and energy prices.”
First set up in Sheffield in 1912, Irwin Mitchell now employs more than 2,500 people across 15 UK offices in major towns and cities including London, Leeds, and Manchester.
Last year, the firm said its pre-tax profits had risen 47 per cent from £23.7m in 2019-20 to £34.8m in 2020-21, after it put in place a raft of cost saving measures in response to Covid-19.
Irwin Mitchell’s soaring profits came after the firm’s revenues increased by just 2 per cent, from £269.3m in 2019-20 to £275.8m in 2020-21.