Asda staff share record £61.7m bonus pot as saving scheme comes good

 
Sales slump: Prices at the pumps dipped according to official figures
Staff|Agencies8 July 2013

Asda staff are set to share a record £61.7 million bonus pot thanks to a share save scheme.

The supermarket said 19,040 workers will benefit as its parent company Walmart's Sharesave scheme matures. Some will get a windfall of more than £15,500.

The scheme allows workers to set aside between £50 and £250 of their salary every month for a three-year period.

At the end of the three years they were given the opportunity to buy shares in Walmart at a 20% discount on the market value in 2010, while they also received a small tax-free bonus.

They are then able to sell the shares at today's market rate, offering the chance to cash-in with a profitable return.

A worker saving £50 a month over the period will receive more than £3,000, while someone who saved the maximum amount of £250 a month will take home more than £15,500.

Since the scheme began in 1982, Asda workers are said to have shared over £650 million.

Hayley Tatum, the company's executive people director, said: "This record bonus pot reflects the success we've seen this year, all of which is down to the hard work and commitment of our colleagues across the business.

"Giving our colleagues the chance to save each month, risk-free is just one of our ways of saying thank you and a great way to ensure that they reap the rewards of their exceptional efforts."

In March it was announced that John Lewis and Waitrose staff would receive bonuses worth 17% of their salary as the group reported a 15.8% surge in annual profits.

Each John Lewis Partnership worker, from weekend check-out assistants to the chairman, are said to receive the same percentage of salary as a bonus.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in