Woolworths rewards employees with shares
AUSTRALIA’S biggest supermarket chain Woolworths Group said this week it will reward more than 100 000 of its staff with free company shares for their efforts during a period of upheaval amid bushfires and the coronavirus buying frenzy.
The company said it would give full-time employees up to A$750 (US$510) of shares each to keep or sell, while part-time staff would get shares on a pro-rata basis. Casual staff would get cash bonuses or store discounts.
The move reflects the outsize role — and sales receipts — of grocery stores around the world as governments raced to shut down restaurants, pubs and most other public gathering places to slow the spread of the new coronavirus in March.
It also comes after several top Australian companies, including Woolworths, faced heavy criticism recently after admitting to underpaying workers — Reuters