Tesco staff to share £30 million windfall through maturing share schemes
Tesco staff are set to receive a bumper pay out after the strong performance of the supermarket’s Save as You Earn colleague share schemes.
More than 20,000 employees, who are mainly working on the shopfloor or in distribution centres, will share in a windfall profit of more than £30 million now that the schemes have matured.
The windfall is due to the strong growth of the Tesco share price which was £3.06 earlier this week. Staff who joined the scheme can buy shares at a discounted price of £1.88 or £1.98 and keep them or sell them and make a profit.
A total of 52,000 colleagues participate in the schemes.
Emma Taylor, Tesco chief people officer, said: “It’s great news that more than 20,000 colleagues will benefit this year from our share schemes.
“Colleagues tell us they like this way of saving every month – and when Tesco performs well, they share in a multi-million pound payout or can keep shares bought at a discounted rate.
“This year the schemes’ success is rewarding our colleagues with thousands of pounds in profit, helping to boost their savings for everything from holidays to house renovations.”
