Mixed morale | Asda axes bonuses for 10,000 managers as Greggs plans £20m profit share

It’s been a week of mixed fortunes for sellers of sausage rolls after Greggs announced a whopping £20m profit share for employees—as reports emerged that supermarket chain Asda would be axing bonuses for over 10,000 staff.

The disparity in bonus policy reflects the contrasting financial performance of the two food retailers in recent months, with one former Asda employee predicting the cuts could lead to morale and retention difficulties.

Greggs enjoyed a notable jump in sales and profits from 2023 to 2024, with sales climbing by 11.3% to reach £2billion. It also opened around 225 new stores last year, a record for the company.

Meanwhile, Asda has struggled to turn around a slump in financial performance. According to Kantar, sales figures from November 2024 to the end of January 2025 dropped by 5.2% compared to the same period in 2024—the only major UK supermarket to experience such a decline, marking Asda’s weakest Christmas period in 10 years.