Some 150,000 people in Britain will be celebrating today after UK supermarket giant Tesco announced that it was awarding all its staff bonuses averaging £4,000 (more than $7,000) each after making record profits last year.
The £220m bonus pot, thought to be the largest-ever handout by a British company, will pay staff 20 per cent of salary in cash, or up to 30 per cent if employees opt to take it in shares.
Tesco boss Sir Terry Leahy will make £2 million, taking his total package to £3 million this year.
A Tesco spokesman said: "It's been a great performance by the whole team and, as these figures show, everybody shares in that success."
20th may 2006! I am a Tesco shop floor employee but sick of this £4000 bonus issue. Since it was talked about in the press no one has recieved any bonus pay after one year not even £1 or any communication i.e aletter/statement about it. May uhelp us and find out why from the chief executive? Our union is very inactive and cant even manage to ask the question 'why'?