Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Latest News

Tesco staff share £68m windfall

by Personnel Today 5 Feb 2003
by Personnel Today 5 Feb 2003

Nearly
40,000 Tesco staff are to share £68m as two of the company’s Save As You Earn
(SAYE) schemes mature.

Staff,
including checkout assistants, dotcom delivery drivers and managers, who have
been saving between £5 and £250 a month for three or five years, will receive
their payouts this week. Top savers will net more than £24,000.

Sir
Terry Leahy, Tesco chief executive, said: 
“Once again thousands of our staff are sharing in the success of Tesco.

“Even
with the ups and downs of the stock market, SAYE remains a safe and easy way
for our staff to invest and reap the rewards of their contribution to the
business. Three-quarters of our 200,000 UK staff now participate in a SAYE
scheme.”

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

Employees
who started the scheme five years ago can buy shares at the 1997 option price
of 121.66p each, while those who joined the scheme three years ago can buy
shares at the 1999 option price of 151p. Then they are free to keep the shares
as a long-term investment or sell them and pocket the profits.

The most
recent three- and five-year schemes to be offered to Tesco staff in October
2002 attracted over 63,800 applications.

Five
year savings plan:

Amount
saved each month

Total
savings plus bonus

Value
of shares

£25.00 

£1,725.00*

£2,408.90**

£150.00

£10,350.00

£14.461.90

£250.00

£17,250.00

£24,102.60

 

Three
year savings plan:

Amount
saved each month

Total
savings plus bonus

Value
of shares

£10.00

£387.50

£435.20

£50.00 

£1,937.50

£2,181.10

£250.00

£9,687.50

£10,905.50

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

 

By
Ben Willmott

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).

previous post
TUC signs landmark agreement with Welsh Assembly
next post
Ryanair warns unions to leave Buzz deal alone

You may also like

Fire and rehire: the relocation question

22 May 2025

Public sector workers gain pay rises of up...

22 May 2025

UK net migration slashed by half in one...

22 May 2025

How neuroscience can unlock employee recognition

22 May 2025

UK universities fret over fall in international students

22 May 2025

HSBC employees warned of office attendance link to...

22 May 2025

The Law Society: Navigating the new world of...

22 May 2025

Workplace stress: Why it’s time to rebrand resilience

22 May 2025

Restaurant tips should be included in holiday pay

21 May 2025

Fewer workers would comply with a return-to-office mandate

21 May 2025

  • 2025 Employee Communications Report PROMOTED | HR and leadership...Read more
  • The Majority of Employees Have Their Eyes on Their Next Move PROMOTED | A staggering 65%...Read more
  • Prioritising performance management: Strategies for success (webinar) WEBINAR | In today’s fast-paced...Read more
  • Self-Leadership: The Key to Successful Organisations PROMOTED | Eletive is helping businesses...Read more
  • Retaining Female Talent: Four Ways to Reduce Workplace Drop Out PROMOTED | International Women’s Day...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+