// Morrisons owner CD&R have invited 800 staff to invest in the business
// The minimum amount needed to participate in the scheme is £2,000
Morrisons’ private equity owners CD&R have asked hundreds of staff to invest thousands of pounds in the business.
More than 800 people, from store managers upwards, have been invited to make an investment, with £2,000 the minimum amount required to participate.
A source told The Guardian that some staff have been feeling pressured into participating at a time where the supermarket is struggling.
Just this month, Morrisons lost its position in the grocery Big Four to Aldi as its sales fell 4.1% in the 12 weeks to September 4, according to data from Kantar Worldpanel,
However, asking staff to invest as part of private equity deals is seen as a way to incentivise staff to help businesses grow.
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A Morrisons spokesperson told The Guardian said: “The opportunity to invest in the future of Morrisons was incredibly popular throughout the business with over 800 colleagues, or more than 90% of those eligible, choosing to invest.”
The newspaper understands that those who agreed to invest in shares in Morrisons were paid a special bonus, equivalent to 60% of the amount they were asked to invest before tax.
Last week it emerged that Morrisons COO Trevor Strain, viewed as a successor to CEO David Potts, is understood to be in discussions about leaving the business.
2 Comments. Leave new
This is so typical of Morrisons. They are totally unprincipled. They would not hesitate to screw these investors. Last week they said they plan to open 2,000 new convenience stores, which was blatant rubbish, this week they hold the begging bowl out to staff.
Disgusting carpet baggers, they have no limit to their greed.