BONUS TIME Thousands of workers set for £1,000 bonus as major bank reveals cost of living pay boost – are you eligible?

LLOYDS Bank has announced that it will award its employees £1,000 bonuses to help them get through the current economic downturn.

The cash would be distributed to 64,182 bank employees, according to the bank.

The bonus money will be distributed to Lloyds employees in their August pay packet.

The money will be distributed to 99.5 percent of the bank's workers. The remuneration will be withheld from senior management and executives.

An internal memo advised employees of the wage increase.

We've been monitoring the shifting picture for inflation and contemplating how we might support you even more as the growing cost of living continues to impact our staff and consumers.

Lloyds isn't the only company offering additional perks to its employees. As more employees seek to enhance their work-life balance, a number of organizations began a four-day work week trial last month.

In order to recruit fresh personnel, a lot of organizations offered joining incentives last year.