MORE than 8,000 Hampshire staff of supermarket giant Tesco are today celebrating a windfall of up to £3,000 each.
The 8,400 Tesco workers in the county are among 207,000 nationwide to scoop a share of a £98m bonus pot generated by the retailer’s recent record annual results.
Tesco says that all staff – from checkout workers to store managers – who have worked with the supermarket giant for at least a year by the end of February are eligible for the free shares, offering 3.6 per cent of salary, up to a maximum of £3,000.
Tesco is Southampton’s biggest retailer and employs more than 3,000 people at 20 stores in and immediately around the city, including a major distribution depot in Nursling.
The ‘Shares in Success’ windfall marks an eight per cent rise on the previous year and comes after Tesco’s annual profits broke through the £3 billion barrier, setting a new record for British retailers.
Stocks handed to staff under the bonus windfall will be held in trust for five years, after which time they can sell them tax-free.
There was also pay cheer for top bosses at Tesco, who picked up £21m in pay and bonuses in the past financial year, according to Tesco’s annual report, also released today.
Chief executive Sir Terry Leahy was paid £5.1m in salary and bonuses, although the payout was down slightly on the £5.5m seen the previous year, with pay packages reduced for many senior staff as Tesco reportedly missed internal targets despite the bumper profits haul.
Tesco’s market share has fallen, but still stands at about 30 per cent.
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