If you were earning 943,000 pounds a year would you need incentives and bonuses?
Of course you would!
Mike Coupe, the boss of Sainsbury, who have just merged with Asda has just received 427,000 pounds bonus!
But that wasn’t enough! He received 1,800,000 pounds in share deals!!
In order to get his bonus he had to slash the pay of 9,000 of his workers, take away paid breaks and restrict bonuses!
So the boss receives a 2,000,000 pound bonus for successfully making his staff work harder for less!
Just think what a difference those pay cuts will have on low paid workers.
This is what his staff get:
|Position||Hourly Pay Rate||Annual Salary|
|Customer Service Assistant||£7.00||£13,500|
It’s tough at the top!!
No wonder he was caught on camera singing ‘We’re in the Money’.
Just think what a 200 pound bonus would mean to all those poor assistants on minimum wage!!
While the wages of his staff all go down Mr Coupe has received a 46% pay rise.
It’s OK. This isn’t unusual. The finance chief at Sainsbury’s receives 1,400,000 pound and John Rogers, the Argos boss, had a pay jump from 1,600,000 pounds to 2,200,000 pounds.
Maybe you think this is alright??
Under the Tories it seems austerity only applies to us ordinary folk like teachers and nurses.