Sainsburys staff net £23 million from share schemes
The supermarket said its three-year and five-year schemes have both matured, giving Sainsbury's staff an average 21% increase on their original savings across over 11,000 saving contracts. The value of shares subject to the maturity over the last seven years is over £162 million.
The biggest savers in the three year plan are set to net over £2,000 each, which is tax-free.
Sainsbury’s chief executive Justin King, said: "For over 30 years we have given colleagues right across our business the opportunity to share in our success through Sharesave. It’s great news that over 11,000 colleagues have been able to share in a £23 million payout from our Sharesave schemes this year. This is part of the wider benefits package we offer to reward our colleagues for the vital role they play day in, day out in delivering great service to our customers.
"We have already committed to increase the number of colleagues with shares in our business by 25% by 2020 as part of our 20 by 20 Sustainability Plan."
All Sainsbury’s employees with three months continuous service are invited to join the scheme. The supermarket currently has almost 31,000 staff saving between £5 and £250 a month into 63,000 Sharesave contracts.
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