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Barclays is raising wages for U.S. workers by at least 21% to $20.50 an hour from $17, joining the ranks of lenders boosting compensation for their lowest-paid staff.
The hike is set to kick in this month and applies to more than 900 employees primarily tied to the firm’s consumer bank, Barclays said in a statement. The new rate will vary based on location and cost-of-living indexes.
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