Sainsbury’s staff share £60 million bonus pot
Published: by
by

sainsburys2Sainsbury’s employees are to enjoy a £60 million bonus pot this year, bringing the total bonuses given to staff at the company to over £300 million in the last five years.

Underlying profit before tax at Sainsbury’s was up 7.1% to £712 million this year, and underlying earnings per share were up six per cent to 28.1 pence, according to the firm's latest annual report.

Despite these figures, Chief Executive Justin King saw his total pay fall nine per cent last year after the supermarket missed its internal sales targets.

King still picked up a total pay package of more than £3m. He pocketed a salary of £920,000, a bonus of £514,000, and £735,000 under his long-term share incentive plan, although half of the latter is deferred for a further year. In addition, King received £897,000 in long-term deferred shares.

The supermarket chain also reported an increase in staff engagement scores, with a four per cent year-on-year increase. There was also a three per cent increase in employees who say they would recommend Sainsbury’s as a great place to work.

Sainsbury’s also celebrated that the company has over 13,000 employees with 20 years or more employment; with 94 having reached 40 years or more.

David Tyler, Sainsbury’s Chairman, says: “I would like to thank all of our colleagues for their efforts in providing excellent service to our customers.

“Our people are, of course, the face of Sainsbury’s, and are central to our ongoing success. We continue to invest in their training and development, and in ensuring Sainsbury’s is a great place to work. I am delighted that they share in a bonus of over £60 million this year.”

 

 

 

 

| Comments (0)| Comment
Related Stories
UK makes last-ditch effort to overturn EU bonus cap ruling
UK makes last-ditch effort to overturn EU bonus cap ruling
The Treasury is preparing for a clash with EU in an effort to overturn the cap imposed on bankers’ bonuses... read more ›
Nigeria's World Cup squad strike over bonus payments
Nigeria's World Cup squad strike over bonus payments
A dispute over bonus payments disrupted the Nigerian football team’s preparations for their World Cup match against France... read more ›
Sports Direct seek £200million bonus approval
Sports Direct seek £200million bonus approval
Sports Direct has asked for shareholders to approve a new bonus scheme in a third effort to grant founder Mike Ashley a payout... read more ›
M&S boss takes 26% pay cut
M&S boss takes 26% pay cut
Marks & Spencer’s CEO, Marc Bolland, has taken a pay cut equivalent to 26% following the retailer’s third straight decline in annual profits... read more ›
Sainsbury's manager sacked for 'trying to rig internal surveys' sues
Sainsbury's manager sacked for 'trying to rig internal surveys' sues
  A Sainsbury’s manager is suing the company for £139,000 for wrongful dismissal, lost salary and benefits after he was fired for allegedly attempting to rig an internal feedback survey so that only the "most enthusiastic" employees filled it in... read more ›
Mystery staff letter attacks Barclays
Mystery staff letter attacks Barclays
A letter sent to the entire Barclays board and various news organisations claiming to be from Barclays employees has criticised its management... read more ›
Barclays and RBS's remuneration plans spoiled
Barclays and RBS's remuneration plans spoiled
Remuneration plans from Barclays and RBS have been spoiled, preventing top executives getting paid too much... read more ›
Ferrari gives staff record bonus
Ferrari gives staff record bonus
Ferrari has awarded its highest ever bonus to its 3,000 staff following record profits in 2013... read more ›