Over 20,000 Tesco staff to split £30m from share schemes

The news comes after Tesco chief executive Ken Murphy has come under fire for his £10m pay package last year.

Strong growth in Tesco share price has contributed to the £30m windfall for employees.

The schemes offer Tesco staff the chance to buy discounted shares in the company.

Earlier this week, Tesco shares were priced at £3.06 but employees can buy them for around £1.88.

The maximum an employee can invest is £500 a month.

Those who did this stand to make £10,000 from the three-year scheme and £20,000 from the five-year scheme, if they opt to sell, Tesco said.

Emma Taylor, Tesco chief people officer, said the strong performance of the scheme reflected the hard work of employees.

“Colleagues tell us they like this way of saving every month – and when Tesco performs well, they share in a multi-million pound payout or can keep shares bought at a discounted rate,” she added.

“This year the schemes’ success is rewarding our colleagues with thousands of pounds in profit, helping to boost their savings for everything from holidays to house renovations.”