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Sainsbury’s has announced that over 9,000 of its employees will benefit from its latest sharesave scheme, with a potential collective profit of around £25m.
The supermarket retailer’s 2022 sharesave plan matured on Sunday, 1 March, giving staff the opportunity to buy its shares at a discounted rate of £1.67 per share from the following Monday.
Participating employees, most of whom work the company’s stores and depots, together hold approximately 15 million share options.
Those who put aside the maximum amount of £240 per pay period throughout the scheme’s duration could make roughly £9,000.
Under the retailer’s ShareSave programme, staff can save money from their pay and later choose to purchase shares at a reduced price when the scheme reaches maturity. They can then hold the shares for long-term savings or sell them and realise the profit.
The retailer’s sharesave programme allows staff to save money from their pay and later choose to purchase shares at a reduced price when the scheme reaches maturity. They can then hold the shares for long-term savings or sell them and take the profit.
The business said that for many workers, the scheme is a “straightforward and accessible” way to save while sharing in its success.
It added that the programme reflects its ongoing dedication to supporting its workforce’s financial health resilience.
17,000 staff currently participate in the scheme.
A Sainsbury’s spokesperson said: “Our colleagues drive Sainsbury’s success, so it is only right that they can share in the success they create through Sharesave. We’re proud that more than 9,000 colleagues are seeing the benefit of their commitment to saving and being investors in Sainsburys, and we want to encourage even more of our colleagues to take part in Sharesave and share in our success in the future.”
