Australian retailer Woolworths Group is giving 100,000 employees in Australia and New Zealand group shares to reward them for their efforts during the Covid-19 (Coronavirus) pandemic.
Full-time employees that were employed by the organisation before 1 March 2020, and who do not already participate in its short-term incentive schemes, will receive up to $750 Australian dollars (£409) of Woolworths Group shares, while part-time employees will be allocated shares on a pro-rata basis.
Eligible full-time employees will also receive $250 Australian dollars (£136) in team member pluscard credits, while Australian casual employees will receive $100 Australian dollars (£54). Employees can use the pluscards in supermarkets, owned by Woolworths such as Metro, BIG W and BWS stores.
Brad Banducci, chief executive at Woolworths Group, said: “We could think of no better way to thank and recognise our team than by making them shareholders in our group.
“The awarding of shares is not only recognition for our team’s efforts over the last year, but also acknowledgement that our team has a critical role to play going forward as we all adjust to the new normal.”
“Today’s recognition announcement has been carefully considered by our board and group leadership to enable us to extend recognition to as many of our team as possible.
“I’d like to thank our team once again for their continued support during these extraordinary times.”