Tesco has vowed to make multi-million payouts as the company’s 2000 and 2002 Save As You Earn (SAYE) share schemes mature.
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Checkout assistants, dot.com delivery drivers and managers are set for a 59% return on investment, three years after joining the SAYE scheme. According to a statement, the company expects the majority of workers to hold onto shares, while others are set double their money, with Tesco share prices at around GBP3.00 (US$5.2).
Tesco chief executive Terry Leahy said: “I know how important our benefits package is to our people. At Tesco we offer fair pay, a great pension and the opportunity for staff to take a stake in the business. In recent years many staff have done this through SAYE.
“I am delighted that so many staff choose to do this and so share in the success that they help to achieve through all their hard work. ”
Under the SAYE scheme, Tesco workers set aside between GBP5.00 and GBP50.00 every month for a three or five-year period, with the option to then sell their shares at a profit or keep them as a long-term investment.
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By GlobalData
