British grocery retailer Sainsbury’s has announced that 137,000 of its staff members will share an annual bonus pot of £80 million.
The news means that the grocery retailer has paid out bonuses of up to £370 million since 2009.
"Sainsbury’s is rewarding the hard work of our colleagues this year with a sector leading bonus pot," said chief executive Justin King.
"This is part of our total reward package, including a discount card and pension scheme, to ensure that Sainsbury’s remains a first rate employer and a Great Place to Work."
The announcement follows the retailer posting a 5.3% rise in annual profits to £798 million for the year to March 15.
Earlier this month, Sainsbury's made a number of internal moves and promotions to its management team, taking effect from May 11.
The changes come as chief executive designate Mike Coupe prepares to take over as CEO from Justin King, who held the post for over a decade.
© 2014 - European Supermarket Magazine
