Asda staff to benefit from share scheme windfall
Supermarket giant Asda has announced that around 19,000 of its employees will share in a record Â£61.7 million pay-out as a three-year share save scheme operated by parent company Walmart matures.
The share save scheme allows Asda staff to set aside between £50 and £250 of their salary per month for a three-year period. At the end of the three years, they are given the opportunity to buy Walmart shares at a 20% discounted price on the market value in 2010. They are then able to sell the shares at today’s market rate, and benefit from a profitable return if the shares have increased in value.
An employee who saved £50 a month over the period will take home more than £3,000, while someone who saved the maximum amount of £250 a month will receive more than £15,500.
The supermarket's executive people director Hayley Tatum 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.”
Asda said its staff had shared over £650 million through the share save scheme since its launch back in 1982.
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