Tesco staff to share £220m in bonuses

Tesco workers have been rewarded for a record year of profits by sharing £220m in what is believed to be the UK’s biggest staff bonus.

The payout – disclosed in Tesco’s annual report – covers about 150,000 staff and includes incentive bonuses and share schemes.

It also emerged that chief executive Sir Terry Leahy earned £3.2m for helping the supermarket chain lift profits by 20% in the last financial year to £2.03bn.

His total package compared with £2.98m a year earlier and included a basic salary of just over £1m. He also received more than one million share options worth the equivalent of £3m in today’s market.

Chairman David Reid said: “As always, our success is down to the hard work and skill of the whole Tesco team. I am delighted that once again all staff are sharing in this success.”

Tesco said it believed the bonus payout of £220m was a record for a UK company.

Comments are closed.