January 24 2023  |  Industry News

Travelex increases pay for staff due to cost of living increase

By Jane Hobson

Travelex has implemented a global pay rise for all staff in markets where the increased cost of the living is proving challenging

Travelex, a market leading foreign exchange brand, has implemented a global pay rise for all staff in markets where the increased cost of the living is proving challenging.

The pay rise, which has benefited more than 3,000 retail and operations staff in 15 countries, has been implemented to help colleagues through the global cost of living crisis and recognize their contribution to the business “amid unprecedented trading conditions in recent years,” reads the press release.

The rise forms part of Travelex’s evolving employee value proposition (EVP), which has been redesigned to make Travelex the go-to employer of choice within the retail foreign exchange industry. The EVP, which is tailored to each international market Travelex operates in, offers benefits including medical cover, the ability to currently work in a hybrid way and increased holiday allowance, depending on where staff are based and the requirements of their role.

Last year Travelex announced the creation of more than 1,200 international jobs across retail, wholesale and head office operations following new contract wins and the rebound of the international travel industry. With Travelex having opened dozens of new stores in 2022 around the world, the company currently has openings for hundreds of frontline and support staff across the business.

Richard Wazacz, Travelex CEO, said, “Ever since I arrived at Travelex I have been taken aback by the level of commitment, determination and professionalism demonstrated by our colleagues. They are an exceptional group of people who have supported the company through challenging market conditions in recent years. As the cost-of-living crisis continues in many parts of the world, it is only right that we, as a people-focussed employer, now offer them our full support in return.”

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