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Tesco To Give ‘Turnaround’ Bonus To Staff

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Tesco To Give ‘Turnaround’ Bonus To Staff

Tesco CEO Dave Lewis has promised the entire retailer’s staff a one-off bonus of up to 5 per cent of their salaries if certain sales objectives are met, The Guardian reports.

The incentive, termed a 'turnaround bonus', is understood to be an effort to stimulate morale at a time when Tesco’s hold on the UK FMCG market is being steadily weakened. Lewis scrapped almost 5,000 supermarket management positions within the UK, 4,000 other jobs abroad, and within Tesco Bank as part of an attempt to reduce expenditure.

The announcement comes in the wake of Tesco’s negotiations with the shopworkers’ union Usdaw.

The turnaround bonus will have no effect on Shares in Success, which in the past has given employees as much as £3,000 as bonuses for good performances.

© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly.

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