EY has reportedly handed thousands of its British-based staff members a portion of a £20m bonus pot, following a positive revenue performance in reaction to Covid-19.
According to Sky News, an average of £1,100 will be paid to 17,500 employees across the UK in a one-off payment.
Staff were reportedly informed of the bonus by Hywel Ball, UK chairman and UK and Ireland regional managing partner, in a video message on Thursday 29 April.
The Big Four firm had reportedly made substantial cost-savings through reduced corporate spending as a result of Covid-19 restrictions.
Ball told Sky News that the pandemic has had “a huge impact on people, communities and businesses in the UK”, in turn taking a “vast emotional toll on individuals and families”.
He added: “It is against this backdrop that I am very proud of our people across the UK. They have worked incredibly hard to support our clients and stakeholders during very challenging circumstances.
“The payment we have announced today is a way for the EY partners to express our gratitude for their resilience and exceptional commitment.”
The one-off payout will reportedly be awarded alongside the group’s annual salary and bonus reviews in October.
Accountancy Today has contacted EY for comment.