Thousands of Tesco staff in line for £134 million windfall

Thousands of Tesco staff could split a £134 million windfall from a share scheme run by the supermarket group.

The UK’s largest retail business said more than 22,000 of its staff, mainly in stores and distribution, are eligible for significant payouts.

Colleagues who cash out are expected to make average profits of between about £5,000 and £8,000 each, it said.

The company, which employs more than 300,000 people across the UK, runs one of the country’s largest save-as-you-earn schemes, with different schemes maturing each year.

This year has seen a particularly strong windfall for employee investors, on the back of gains in Tesco’s share price in recent years.

Shares in the retail giant have risen by almost 25% over the past year.

The scheme has allowed employees to buy shares at a discount rate.

Workers can choose to either keep their shares for the longer term or sell some or all of their shares to cash in on the windfall.

It said workers who invested the average figure of £91 a month in Tesco’s three-year scheme will have made a profit of £5,346.

Those who invested the average £94 a month in the five-year scheme will make £8,004 profit.

Overall, employees could be in line for a total payout worth as much as £134 million – more than four times the £30 million profit shared by staff in 2024.

Emma Taylor, Tesco chief people officer, said: “Our people are at the heart of everything we do and when we succeed, we want our colleagues to share in that success.

“Our frontline colleagues deliver for customers every single day, and we are delighted that our save-as-you-earn scheme is providing a really tangible reward for all their hard work, commitment and loyalty.”