Monday, January 24, 2022

Asda employees receive £50.9m from Sharesave scheme

Employees at supermarket Asda are celebrating a multi-million pound payout as part of a share ownership scheme, it has been announced.

As a three-year Sharesave scheme from Asda‘s American parent company Walmart comes of age, 17,698 workers are to receive a total of £50.9 million, the biggest payout on record for colleagues.

Celebrating its 30th anniversary this year, the scheme allows employees to save between £5 and £250 a month over three years before collecting a tax free bonus. Workers are also offered Walmart shares at a discounted rate of 20 per cent before selling them off at market rate.

Those saving £50 a month will receive over £2,808, which is £1,008 more than their original investment of £1,800.

Colleagues who have saved the maximum amount of £250 a month will receive £14,008, over £5,008 more than the initial £9,000 investment.

Hayley Tatum, Executive People Director at Asda, praised its employees for their “tireless” work, adding: “Giving our colleagues the chance to have a stake in the company is just one of our ways of saying thank you and a great way to ensure that they share in the success that their hard work has achieved.”

Last month, the retailer was recognised for its dedication to offering benefits to its workers, collecting the Employee Benefit Award for most effective all-employee scheme strategy.

While each individual will spend their money as they wish, the most popular ways to use the money are trips abroad, weddings and home improvements.

Lisa Hughs, from Asda Pwllheli in Wales, has worked at Asda for over four years and is planning a family holiday with her windfall.

“I have been saving through Sharesave for the last three years and this maturity couldn‘t have come at a better time,” she explained.

“I‘ve recently split up with my husband after fourteen years and will be using the money to take my three young kids to Disneyland to help take our mind off things – I literally can‘t wait!”


Please enter your comment!
Please enter your name here