Tesco colleagues to enjoy £134m windfall from share scheme

A total of 22,348 employees at the UK’s largest retailer currently take part in the scheme, with each set to make thousands of pounds in profit from it. The grocery said the majority of staff in the scheme work in its stores and distribution centres.

Tesco added that employees who invested the maximum of £500 a month “stand to make a personal profit of £29,374 from the three-year scheme and £42,576 profit from the five-year scheme”.

Staff can buy shares at the discounted price of either £1.82 for the three-year scheme, or £1.98 for the five-year option with savings they’ve invested from the SAYE scheme.

They can then either choose to keep the shares for the longer term, or sell some, or all of them.

Tesco chief people officer Emma Taylor 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.”