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Tesco staff to split £30 million pot in share scheme

Published 04/07/2024, 09:00
© Reuters.  Tesco staff to split £30 million pot in share scheme
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Proactive Investors - Some 20,000 Tesco PLC (LON:TSCO) workers are set to split a bonus of £30 million, using funds which have been generated through the supermarket's share scheme.

An employee who has invested the typical £68 per month over the last five years is on track to receive £6,640 for their £4,080 investment, netting them a profit of £2,560.

Payouts from Tesco's "save as you earn" scheme are said to have been high due to the grocer's "strong performance" in recent times, having most recently bolstered market share whilst also seeing growth across most of its divisions.

Most of the staff set to receive the bonus either work on the shop floor or in distribution centres, the UK's largest supermarket explained.

It comes after chief executive Ken Murphy recieved slight pushback for his £10 million annual pay package, which is the largest of any UK-listed retailer.

The scheme provides staff at Tesco, of which there are 30,000 across the UK, with the chance to buy shares in the supermarket at a discount.

Read more on Proactive Investors UK

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