Marks & Spencer is facing a revolt by its shopworkers after annual bonuses were slashed to just £100.
Workers held meetings yesterday, according to the Daily Mail, after being told their bonuses would be hacked following a dip in profits.
Full time workers have had their bonuses cut from £350 to £100 while the figure for part-timers has been reduced from £140 to £50.
One staff member told the newspaper: “We held a meeting and people went mad about what they see as very shabby treatment.”
Marks & Spencer’s bonuses are discretionary and based on business performance.
All eyes will be on the retailer’s chief executive Marc Bolland to see if he collects his annual bonus which, with perks, could top £4m. It emerged yesterday that Tesco boss Philip Clarke gave up his £372,000 bonus following a weaker than expected UK performance.