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Latest News

Tesco staff celebrate as savings schemes mature

by Personnel Today 2 Feb 2004
by Personnel Today 2 Feb 2004

More
than 45,000 Tesco staff across the UK are today celebrating a £110m pay-out as
two Save As You Earn (SAYE) share schemes mature.

Checkout
assistants, delivery drivers and managers are among those receiving share
windfalls, with top investors netting nearly £30,000.

Record
numbers of staff – more than 67 per cent – have chosen to reinvest their
shares.

Under
the SAYE scheme Tesco staff can set aside a fixed sum of their salary each
month for a three- or five-year period. When the scheme matures, they have the
option to buy Tesco shares at a price set when they joined the scheme.

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The
most recent three- and five-year schemes to be offered to Tesco staff in
October 2003 attracted more than 40,800 and 23,600 applications respectively.

By Quentin Reade

Tesco
Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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