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Asda employees benefit from record share scheme payout

Asda employees will receive a record £49 million payout this year after their Sharesave scheme with the supermarket’s parent company matured.

GENERAL MERCHANDISE

Asda employees benefit from record share scheme payout

Asda employees will receive a record £49 million payout this year after their Sharesave scheme with the supermarket’s parent company matured.

The savings programme allows participating staff members to save between £5 and £250 each month and after three years they can exchange their cash pot for discounted Asda shares.

The payout, which also includes a tax-free bonus, is part of a scheme designed by Walmart almost 30 years ago to allow colleagues to benefit from the success of the business.

Asda employees were also rewarded in February, when the supermarket reported a 0.6 % increase in like-for-like sales for 2010. Employees were given a share of a £26.9 million bonus for successfully meeting targets.

Sarah Dickins, People Operations and Policy Director at Asda, commented: “Our colleagues drive the long-term success of our business; with a 70 per cent increase on the money they invested for this year’s payout I am delighted that so many of our that so many of our colleagues are reaping the rewards of their hard work.”

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