By Hugh Radojev2019-07-09T10:55:00
Around 25,000 Asda staff have pocketed a share of £62m from a share save scheme with the grocer’s parent company that came into effect in 2016.
The Leeds-based grocer has received the windfall due to a strong return from the company’s Save As You Earn scheme, which allowed for staff to save between £5 and £300 from their salary each month for three years starting in 2016.
After that three-year saving period, staff were then able to buy shares in Asda’s parent company Walmart at a 20% discount. Since 2016, Walmart shares have more than doubled, from £36.99 to £87.12 per share at the maturity date of July 1, 2019.
A staff member putting aside an average of £70 per month would have saved £2,520 over three years but received £5,924 in their bank account.
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