Tesco's staff scoop £148m bonanza
Thousands of supermarket workers will be dancing in the aisles after Tesco announced they will share a £148 million payout after two of the firm's savings schemes matured.
Around 50,000 members of staff, including checkout assistants and delivery drivers, save between £5 and £50 a month.
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More than 6,000 workers are in line for a payout of more than £7,000.
Tesco chief executive Sir Terry Leahy said: "Our staff are the main reason so many people choose to shop with Tesco, and through Save As You Earn they can share in the success they achieve through all their hard work."
The scheme enables, Tesco staff to save a fixed sum from their salary each month for a period of three or five years.
Once the scheme has matured, employees can then buy Tesco shares at a price set when they joined the scheme - for about 20 per cent less than the share price at the time.
Employees who joined the scheme five years ago can buy shares at the 2001 option price of £1.98 each, while those who joined the scheme three years ago can buy them at the 2003 price of £1.95.
Tesco shares price today stands at £4.34.
