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Sainsbury’s staff to net £8 million from share schemes

Sainsbury’s staff participating in the supermarket’s Sharesave schemes are to share an £8 million windfall.

GENERAL MERCHANDISE

Sainsbury’s staff to net £8 million from share schemes

Sainsbury’s staff participating in the supermarket’s Sharesave schemes are to share an £8 million windfall.

Nearly 11,000 staff will share in the company's success as two Sharesave plans mature, with the biggest savers in the five-year plan set to profit by over £10,000 each.

With a share price of £3.38 when the three-year and five-year plans matured, staff in the five-year plan saw a 68% increase on their original savings while those in the three-year plan achieved a rise of 13%. 

Sainsbury’s chief executive Justin King said: "I’m delighted to see another year of great Sharesave returns to over 11,000 of our colleagues.

"It’s a great way to share our success with colleagues working right across our business."

Sainsbury’s invites all staff with three months continuous service to join the scheme. There are currently almost 34,256 staff saving between £5 and £250 a month into 71,334 Sainsbury's Sharesave contracts.

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