Dan Murphy’s, BWS, Cellarmasters and Langton’s staff are among 100,000 Woolworths employees being rewarded with a shares bonus worth more than $50 million.
Woolworths Group is giving the shares bonus to employees in recognition of their efforts over the last year.
“From protests in Hong Kong, droughts and bushfires in Australia to the devastating volcanic activity in New Zealand and finally COVID-19, we have pulled together as a team to support each other, our customers and the communities in which we live and operate,” chief executive Brad Banducci 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.”
About 30,000 eligible full-time staff will receive up to $750 of Woolworths shares and about 70,000 part-time staff will be allocated shares on a pro-rata basis.
Only staff who were employed before March 1, 2020, and who do not already participate in the group’s short-term incentive schemes are eligible for the shares bonus.
Shares cannot be sold until after three years or when an employee quits the group, in line with Australian Tax Office requirements.
Woolworths Group will also give all Australian full-time and part-time team members who were employed prior to March 1, 2020 and who do not participate in the group’s STI schemes $250 in Team Member PlusCard credits. Australian casual team members employed prior to March 1, 2020, will receive $100.
The PlusCards will be available to spend like a gift card in Woolworths Supermarkets, Metro, BIG W and BWS stores.
Casual team members in Australia who joined the group on or after March 1, 2020, to assist during the COVID-19 demand surge will be able to keep their team discount until the end of December of this year, irrespective of whether they stay with the group or not.
