Asda staff are to pocket an estimated £47m following the maturity of a three-year Walmart sharesave scheme.
This year’s plan is the biggest sharesave payout since Walmart acquired Asda in 1999. 15,600 staff will share the windfall, with an estimated £15 profit per share – a 90% increase on each staff member’s savings.
Staff who saved the maximum amount of £250 per month for the past three years are to receive £17,000 in total, £8,000 more than their original £9,000 investment.
Chet Kuchinad, Asda’s people director, said: “In tough economic times like these, it’s great that so many of our colleagues are sharing in the long-term success of the business.
“With almost a 90 per cent increase on the money they invested, they’ll certainly reap the rewards.”
The sharesave plan, created in 1982, allows staff to save between £5 and £250 every month.