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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

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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