£51m windfall for Asda staff

By ERIKKA ASKELAND
Published on 21/06/2012 00:00

STAFF at supermarket chain Asda will share a record £50.9 million bonus as a three-year share save scheme run by its American parent, Walmart, matures.

The company’s 17,698 employees will receive an average payout of £2,876. The actual sum depends on how much they have been saving. Those who put aside £50 a month will receive £1,008 more than their original investment of £1,800.

Employees who saved the maximum £250 a month will receive a bonus of £5,008 on their initial outlay of £9,000.

Employees can buy Walmart shares with their savings at a 20 per cent discount at the end of the three year period. They are then able to sell the shares at the market rate to benefit from a dividend on top of their savings.