Sainsbury's reward execs, punish staff

[Brian Turner]

J Sainsbury's new boss is to get share options worth around £1.5m, just as staff have learned they are to lose a long running Christmas cash bonus. The firm has confirmed that for the first time in 25 years, full-time staff will not be getting their festive bonus in 2004, today worth some £100.

Instead the supermarket chain's staff will have to make do with a 5% extension in store discount.

Sainsbury's is struggling against its rivals, and has seen profits slip.


The decision to end the Christmas bonus will affect 100,000 full-time Sainsbury's staff, who are instead having their store discount increased from 10% to 15% from October to December.

Sainsbury's said the decision had been made following a successful trial.


http://news.bbc.co.uk/1/hi/business/3736155.stm



As a note, I like the comment from the supposed Sainbury's employee:
Sainsbury's - making life taste bitter.