Argos employees to share £13m bonus as share scheme matures

More than 900 Argos employees across the UK are celebrating a potential pay-out of £13m following the maturity of a share save scheme run by parent company GUS plc.

Employees who saved the maximum amount over the five years will be rewarded with a profit of more than £28,000, in addition to their £15,000 savings and end of scheme bonus.

Store employees, warehouse workers, delivery drivers and managers are among those who have benefited from the company’s success.

Terry Duddy, Argos Retail Group chief executive, said: “This payout is a tribute to the commitment and confidence of our colleagues who have shared in the success of the business for the last five years.”

Under the terms of the scheme, which was first introduced in 2001, employees can buy shares in GUS at a 20% discount using a special tax-free savings account. Employees can save between £5 and £250 per month for three or five years. At the end of the savings period members have the option of using all their savings and bonus to buy the GUS shares at a discount or taking all their savings and bonus in cash.

The most recent three and five year schemes to be offered to Argos staff attracted more than 3,500 applications. Employees at other companies have benefited from similar schemes.

Comments are closed.