Sainsbury's staff share £26.5 million saving scheme payout
Over 11,000 staff at Sainsbury's are set to share a £26.5 million payout as two of the retailers Sharesave schemes mature. Sainsburys said the biggest savers would net over £3,000 each.
The scheme allows Sainsbury’s staff to buy shares in the business. With the share price of £2.97 when the three-year and five-year schemes matured and were exercised, staff participating in the scheme have seen an average increase of 29% on their original savings.
Gwyn Burr, Sainsbury's customer service and colleague director, said: "This is great news for thousands of our colleagues, providing an extra reward for the vital role they play in delivering fantastic service to customers and driving our success."
All Sainsbury's staff with three months continuous service are invited to join the scheme. Sainsbury’s said there are currently almost 26,000 staff members saving between £5 and £250 a month into 63,000 Sharesave contracts.
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