Next staff to share chief executive's £2.4m bonus

  • 17 April 2013
  • From the section Business
Next Shoreham
Image caption Next's recent trading has proved resilient

Staff at clothing and household furnishings retailer Next are to get a cash payout after the company's boss decided to share a £2.4m stocks bonus among employees.

About 19,400 workers at the firm - those who have been employed by Next for at least three years - will receive an average £124 payout in July.

The GMB union described the announcement as a "PR gesture".

Lord Wolfson's annual pay totalled £4.7m last year.

This comprised £1.1m in base salary, a separate £1.1m annual bonus, and £2.5m in long-term performance shares.

The £2.4m bonus he is giving up is related to a rise in the Next share price.

The Leicestershire firm's shares have jumped by 48% over the past year alone as its trading has proved resilient amid the difficult High Street conditions.

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites