Sainsbury’s bosses got £7million before ‘greedy’ supermarket revealed it was slashing 3,000 jobs
Sainsbury’s bosses got £7million before ‘greedy’ supermarket revealed it was slashing 3,000 jobs
Share:
Sainsbury's top bosses bagged a staggering £7million before the supermarket revealed it was axing 3,000 jobs. CEO Simon Roberts warned of a “particularly challenging cost environment”, as the retailer announced plans to close remaining in-store cafes as part of a major overhaul. But as some staff are set to be culled, we can disclose Roberts and his finance chief have enjoyed huge pay packets.
Roberts received an eye-watering £4.912million in remuneration in 2023/4, figures show. Meanwhile, chief financial officer Bláthnaid Bergin got a cool £2.383million. It means the pair collectively scooped £7.295million in their pay packets, including salary, benefits, pension, annual bonus and long term incentive plan (LTIP) in 2023/4.
Roberts’ package included a £933,000 salary and a whopping £2.054million bonus and £1.836million LTIP. Bergin’s package also included a £1.147million bonus and over half a million in LTIP. Unite general secretary Sharon Graham said: “It is a disgrace that Sainsbury’s is happy to jettison its dedicated workers while paying telephone number salaries to its top bosses. The company’s sheer greed is now there for all to see - handing out bonanza bonuses for rampant profiteering while workers and customers suffer the consequences.”.
It comes after Roberts said on Thursday: “As we accelerate into year two and beyond of our strategy, we are facing into a particularly challenging cost environment which means we have had to make tough choices about where we can afford to invest and where we need to do things differently to make our business more efficient and effective. The decisions we are announcing today are essential to ensure we continue to drive forward our momentum but have also meant some difficult choices impacting our dedicated colleagues in a number of parts of our business. We’ll be doing everything we can to support anyone impacted by today’s announcements.”.
