Some 20,000 Tesco employees have enjoyed quite a windfall from the company’s share save scheme, each getting a little piece of a £30m payout.
Telling the world about this is smart on the part of Tesco’s PR team, coming just a few weeks after quite the kerfuffle about chief executive Ken Murphy’s £10m earnings package, which was more than double his payout from the previous year and represents a record for the group. It means Mr Murphy received roughly a third of the entire sum shared out among the participating 20,000 Tesco employees.
Nevertheless, it is quite a generous scheme. Anyone saving through it is given the option to buy shares at a sharply discounted price after three or five years; the price is based on the market valuation at the time the scheme starts. If the shares have increased in value, members can either use their funds to buy and keep the cheap shares or sell them at a handsome profit.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Ruthless Medvedev knocks out ailing top seed Sinner
Rule out Daniil Medvedev at your peril.
Van Dijk can prove legends wrong by getting into final
Of all the players around Europe to chastise, to suggest hasn’t had a positive impact on teammates and to berate for not playing well enough, Virgil van Dijk will feel like a baffling choice to regular viewers of the Premier League.
Southgate: This is England's chance to make history
Three Lions have full squad available for Netherlands match
Yamal's wonder goal leads favourites Spain into final
If this is to be Spain’s first men’s trophy since the glory era of 2008-12, there couldn’t be a better signal of a new era than the youngest player in the history of the European Championships scoring the goal to set them on their way to the final.
Thames Water may go bust, what does this mean for us?
Pity the poor Thames Water consumer (for the record, I am one). We found out yesterday that the water company only has enough cash to last until next May – thanks to a debt pile of more than £15bn.
Dyson to slash 1,000 jobs
Dyson is axeing up to 1,000 jobs in the UK as part of a costcutting drive. The move by the vacuum cleaner maker, which relocated its headquarters to Singapore in 2019, will see its British-based workforce reduced by more than a quarter.
Senior Democrat publicly urges Biden to step aside
Adam Smith is sixth House representative to call for change
Indian recruits in Russian army can quit, says Putin
Citizens were reportedly misled’ into serving in Ukraine
'A room covered in blood'
A mother and daughter caught up in the Russian missile strike on a Kyiv children’s hospital speak to Tom Watling
Sugar consumption down one year after tax applied
The sugar tax imposed on soft drinks in Britain led to a significant drop in sugar in people’s diets, according to a longterm study.
