News – Page 3
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ArticleEXCLUSIVE: Wickes leverages benefits schemes to bring cost savings
Employee Benefits Live 2022: Home improvement retailer Wickes has made a number of changes to its benefits schemes to bring cost savings to the business, while also supporting the financial wellbeing of staff.Addressing delegates at Employee Benefits Live 2022 in a session entitled ‘How to structure a compelling cost-effective benefits ...
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ArticleLyneal Group establishes employee ownership trust
Lyneal Group, which operates employee benefits firms mystaffshop.com and myhealthxtras.co.uk, has formed the Lyneal Group Employee Ownership Trust in a £10.5 million deal.The trust will have ownership of the entire issued share capital of Lyneal Group, with all 28 employees having a beneficial interest. It was advised by KMBA, Claritas ...
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ArticleThe top 10 most-read articles between 9 - 15 September 2022
The top 10 most-read articles on www.employeebenefits.co.uk between 9 and 15 September 2022 were: Sainsbury’s launches cost-of-living support packageGreene King enhances maternity leave and supportAlexander Dennis staff to strike over payMedian monthly pay up 6.5% in August 2022Arcoframe to pay staff £160 a month cost-of-living bonusNorwich City Council launches living ...
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ArticleGopuff rolls out stock equity programme for UK employees
Credit: Ceri Breeze / Shutterstock.comRapid delivery business Gopuff has started rolling out its GoStock Equity Programme for its 1,400 employees and workers in the UK.The business released an internal memo last week that detailed the initiative, explaining that employees and workers, including delivery drivers, will receive equity and an ownership ...
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ArticleBritsafe becomes employee owned
Oldham-based security and cleaning firm Britsafe has transferred ownership of the business to its workforce, in a move to provide greater future job security for staff.According to Britsafe, which employs 500 people nationwide, staff will all have a stake in the business and receive tax-free bonuses if it continues to ...
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ArticleGlobalData employee share option scheme vests £82 million
A total of 146 long-term employees of industry intelligence provider GlobalData have benefited from the business' share option scheme, with awards vesting £82 million, as of this month.GlobalData created the scheme in 2010 as part of a goal to align its staff to its long-term success, and granted the first ...
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ArticleMinnesota Rubber and Plastics staff to receive pay out due to sale
Credit: rarrarorro / Shutterstock.comGlobal investment firm KKR has signed an agreement to sell Minnesota Rubber and Plastics (MRP) to engineered polymer solutions business Trelleborg Group for approximately US$950 million (£780.2 million), with employees set to receive a pay-out as a result.MRP has more than 1,450 employees across four US states, ...
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ArticleConcepto Diagnostics becomes majority employee owned
Diagnostic services business Concepto Diagnostics has become majority owned after co-directors and co-owners Atal Malviya and Eileen Flatley transferred 51% ownership to an employee ownership trust (EOT).Malviya and Flatley have retained ownership of 49% of the firm, which was recently valued as being worth £97.1 million. Throughout the process, the ...
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ArticleTrident Building Consultancy transfers ownership to staff
Surveying practice Trident Building Consultancy, which has offices in the UK and Dublin, has transferred ownership of the business to its 90-plus employees, with all shares passing to an employee ownership trust (EOT).According to the directors, the existing management structure will stay in place, with the EOT managed by five ...
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ArticleMinehead Medical Centre moves to employee ownership
NHS GP practice Minehead Medical Centre in Somerset has become 98% owned by an employee ownership trust (EOT).According to the practice, being an employee-owned entity allows its 50 members of staff to have a say in how the practice is run without needing to invest their own money. All profits ...
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ArticlePeloton offers staff one-off cash bonus and stock options
Credit: nyker / Shutterstock.comExercise equipment business Peloton has offered its US employees either a one-off cash bonus or stock compensation changes in a bid to retain its workforce, according to internal memos.As of 1 July, its hourly workers are eligible for a one-time cash bonus to be paid before the ...
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ArticleGreat Cornish Food Store becomes part employee-owned
Retail and hospitality business Great Cornish Food Store has become part employee-owned as it celebrates its sixth anniversary this week.According to the food retailer, which is based in Truro, Cornwall and shares its premises with a major supermarket, the move means that its 24 members of staff will part-own the ...
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ArticleWalr launches phantom stock plan for all staff
Data creation platform business Walr has introduced an employee phantom stock plan, or shadow options scheme, for its 70 employees.The scheme is available to all employees, no matter their seniority, and will allow them to participate in the business’ future success in the form of financial reward, by simulating stock ...
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ArticleEvolve Family Law transitions to employee ownership
North west England-based law firm Evolve Family Law has become an employee-owned business in order to preserve its future independence.The business, which was established in 2015 by founding directors Robin Charrot and Louise Halford (pictured) and has offices in Holmes Chapel and Whitefield, is now 100% owned by a newly ...
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ArticleProtech transitions to employee ownership
Hemel Hempstead-based recruitment firm Protech has transitioned to employee ownership, transferring 100% of shares to an employee ownership trust (EOT) for its 14 employees.Protech managing director Antony Cox, who bought the business in 2003 as part of a merger, owned 60% and director Roman Motyczak owned the remaining 40%. According ...
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ArticleMelin Tregwynt marks 110 years with employee ownership deal
Pembrokeshire-based woollen mill and shop Melin Tregwynt has marked its 110th anniversary by transitioning to an employee ownership trust (EOT).Current owners Eifion and Amanda Griffiths have handed over ownership to their 42 employees, though they plan to remain in the business on a part-time basis.By giving all employees a stake ...
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ArticleRobertson Bell bought by employee ownership trust
Public and not for profit sector recruitment agency Robertson Bell has been sold to an employee ownership trust (EOT).Founded by CEO Stuart Bell in 2007, the business’ move to sell to an EOT has been aimed at building a legacy for the employees who will be creating its future successes, ...
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ArticleKilmac adopts employee ownership
Scottish civil engineering contracting firm Kilmac has become employee owned, guaranteeing the future of 130 employees’ jobs.Based in Tayside with an annual turnover of £20 million, the business has been placed in an employee ownership trust (EOT) by its founders Athole McDonald and Richard Kilcullen.The overall process was supported by ...
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ArticleFitzgerald Contractors transfers ownership to staff
Credit: Fitzgerald Contractors LtdCivil engineering business Fitzgerald Contractors has transferred ownership to an employee-ownership trust (EOT).The organisation, which made a profit of more than £17.1 million in the year to March 2021, was a subsidiary of Thomas Vale Construction until it was acquired by managing director Nick Coley in 2013. ...
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ArticleTerence O'Rourke becomes employee owned
The directors of Terence O’Rourke have handed ownership of the planning and design consultancy to its staff.The firm, which has offices in London, Birmingham and Bournemouth, established an employee ownership trust (EOT).Founded in 1985, Terence O’Rourke has remained in private ownership for more than 36 years, but its board wanted ...