Hundreds of shoe chain workers share in £25million profit bonus
HUNDREDS of shop workers at a Scots shoe chain were celebrating yesterday after they bagged a share of a £25million profit bonus.
Livingston-based Schuh – who have 500 employees in Scotland – confirmed the payouts after announcing annual profits of more than £11.5million.
The deal means their 3500 UK workers receive an amount depending on their length of service and salary.
A full-time sales assistant earning £14,000 and with five years’ service will get a bonus of £3000. Meanwhile, a store manager on £34,000 and 10 years’ service can expect to bag £14,000.
Yesterday, staff at the Schuh store in Glasgow’s Arg y l e St re et were celebrating their windfall.
It was a double celebration for deputy store manager Steven Anderson, as his girlfriend Natalie is also a manager with the firm.
The 27-year-old, from Bishopbriggs, told the Record: “We just bought a flat last year so some of the money can go towards that and clearing off a few debts.
“But there is a big 60-inch television I’ve got my eye on as well.
“I think it’s great to know that you work for a company that gives s omething back to the workers, rather than paying off the big boys.”
Sophie Clark, who turned 20 this month, was also happy about the bonus. The sales assistant, from Bearsden, has around twoand-half years’ experience with Schuh.
She said: “It is dead exciting and totally unexpected. I have a holiday coming up so this will go towards my spending money.”
Schuh were founded in Edinburgh 30 years ago and now have 111 branches across the UK. The bonus came as part of the 2011 deal when Ame r i c a n firm Genesco Inc. bought t h em f or £125million.
It was agreed that the company would put in place a bonus scheme to reward staff for the continued good performance and hitting certain targets over the last four years.
Chief executive of Schuh Colin Temple said: “Despite real challenges for all high street retailers, Schuh are going from strength to strength.
“Our success is based on the hard work and dedication of our people.”
It’s great to know you work for a company that gives something back STEVEN ANDERSON