Tesco Ireland Staff Not Included In UK 'Turnaround Bonus' Scheme
A plan to offer bonuses to Tesco staff in the UK, should they meet sales and profit targets for the year, will not be extended to Ireland, the retailer has said. Last week, Tesco chief executive Da...
A plan to offer bonuses to Tesco staff in the UK, should they meet sales and profit targets for the year, will not be extended to Ireland, the retailer has said.
Last week, Tesco chief executive Dave Lewis confirmed that all staff members that joined Tesco on or before 31 August 2015, will receive a bonus of up to 5% of what they earn, should they meet targets for the 2015/16 full year.
The so-called 'turnaround bonus' forms part of the 'Big Six' strategy announced by Lewis in April, which replaced the retailer's former 'Steering Wheel' employee scorecard.
However, a spokesperson for Tesco Ireland said that the scheme would not be introduced here.
"The Turnaround Bonus announced by Dave Lewis is linked solely to the UK market’s performance and applies to colleagues working in the UK only," the spokesperson said.
"Tesco Ireland’s remuneration plan is entirely separate to the UK, and we make decisions on colleague remuneration in the context of our ongoing business performance in the Irish market."
At the end of June, talks between Tesco Ireland and trade union Mandate broke down, over the retailer's decision to drop a share bonus scheme for its staff.
Commenting at the time, Mandate Assistant General Secretary Gerry Light said, “It is extremely disappointing that Tesco has refused to provide detailed information in respect of their profits in the Republic of Ireland. This financial data is necessary in order for us to establish the capacity of the company to fulfil our claim.
"If they can’t pay the share bonus and a modest pay increase, they should show us evidence of that fact. In the absence of this evidence, we have to assume Tesco is capable of fulfilling our claim."
© 2015 - Checkout Magazine by Stephen Wynne-Jones