Aussie workers score $1000 bonus
More than 100,000 Woolies workers will receive shares and vouchers as a "thank you" for their hard work during the coronavirus pandemic and other recent crises.
The Woolworths Group has announced each eligible full-time team member in Australia and New Zealand will score up to $750 Woolworths Group shares for them to keep or sell in the future, with part-time eligible team members allocated shares on a pro-rata basis.
The offer will be available to those who were employed before March 1, 2020 and who do not already participate in the Group's short-term incentive schemes.
It means Woolworths Group will have the largest number of shareholder team members in the Australian and New Zealand markets.
Woolworths Group CEO Brad Banducci confirmed the move and thanked workers for their efforts in recent, unprecedented times.
"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," he said.
"This has taken an enormous amount of hard work and dedication and through our collective commitment we have indeed lived our purpose of creating better experiences together for a better tomorrow.
"We could think of no better way to thank and recognise our team than by making them shareholders in our Group."
Mr Banducci said the shares were a recognition of the team's efforts over the last year, but also acknowledged its "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," he said.
"I'd like to thank our team once again for their continued support during these extraordinary times."
On top of the shares offer, all Australian full-time and part-time team members who were employed before March 1, 2020 and who do not participate in the Group's ST, will also receive $250 in Team Member PlusCard credits.
It means eligible full-timers will gain a total bonus worth $1000.
Casual staff employed before that date will receive $100, with the cards able to be spent in any Woolworths Supermarkets, Metro, BIG W and BWS stores.
Originally published as Aussie workers score $1000 bonus