Thousands of Tesco employees are in line for a share of a £134 million windfall, thanks to the supermarket giant's save-as-you-earn share scheme. Over 22,000 workers, primarily those in stores and distribution, are eligible for substantial payouts, with average profits ranging from approximately £5,000 to £8,000 each.
Tesco, which employs over 300,000 people across the UK, operates one of the nation's largest save-as-you-earn schemes. This year's windfall is particularly lucrative due to a nearly 25 per cent surge in Tesco's share price over the past year, allowing workers to purchase shares at a discounted rate.
Employees who invested the average sum of £91 per month in the three-year scheme will have made a profit of £5,346, while those who invested £94 per month in the five-year scheme will see a profit of £8,004. In total, the combined payout could reach £134 million, more than quadruple the £30 million shared by staff in 2024.
Emma Taylor, Tesco's Chief People Officer, said: 'Our people are at the heart of everything we do and when we succeed, we want our colleagues to share in that success. Our frontline colleagues deliver for customers every single day, and we are delighted that our save-as-you-earn scheme is providing a really tangible reward for all their hard work, commitment and loyalty.'
Workers have the option to retain their shares for the long term or sell some or all of them to capitalise on the windfall.
