Around 18,000 Asda staff are set to pocket a record £50.9m as a three-year Walmart Sharesave scheme matures.
This year’s payout, the biggest on record for staff, will see those saving £50 a month receive more than £2,808, over £1,008 more than their original investment of £1,800. Colleagues who have saved the maximum amount of £250 a month will take home £14,008, over £5,008 more than their original investment of £9,000.
The scheme, which is celebrating its 30th anniversary this year, allows colleagues to set aside £5 to £250 per month for a three-year period, at the end of which they receive a tax-free bonus and an opportunity to buy Walmart shares at a 20% discounted price. Colleagues are then able to sell the shares at market rate, giving them the opportunity to benefit from an additional dividend on top of their savings.
Since launching back in 1982, Asda colleagues have shared over £530m through the scheme.
Hayley Tatum, executive people director at Asda, said: “Our in-store and depot colleagues are the heart of our business and work tirelessly, week-in week-out, to serve the 18 million customers that visit us each week.
“Giving our colleagues the chance to have a stake in the company is just one of our ways of saying thank you and a great way to ensure that they share in the success that their hard work has achieved.”
The most popular choices for colleagues to spend their windfalls on remain foreign holidays, weddings and home improvements.