Asda gives £70m profit share to employees

Asda employees have shared almost £70m in performance-related bonuses since Wal-Mart bought the UK supermarket business five years ago.

The company ended the 2004 financial year with more than 113,000 staff sharing a record £19m bonus.

This is £4m more than in 2003 and covers an extra 11,000 employees. The annual performance-related bonus scheme was introduced in 2000 after Asda became part of Wal-Mart.

An employee with a 100% bonus will take home an extra £300, but many will earn more.

For the third year, staff outperforming their store targets will be pocketing up to 120% of their annual bonus, a payout of up to £360 for every full time colleague in the stores that hit a ‘Superbonus’ sales threshold.

Caroline Massingham, Asda retail people director, said: “It’s the hard work and enthusiasm of our colleagues that has made the business a success this year. It’s great to be able to share the rewards with them.”


Comments are closed.