NEXT BOSS TROUSERS £4.5M DEAL
Tory peer’s bumper pay day after offering workers paltry £1 an hour
THE Tory peer who runs fashion chain Next enjoyed a mammoth pay hike to £4.5million – as warehouse staff were offered a meagre £1-an-hour rise.
Simon Wolfson, CEO of the retailer, got a £2million increase after the firm posted profits of £918million.
But Next’s warehouse staff, some said to have been on as a little as £10.80 an hour, were told they could only have an extra pound added to their hourly rate.
Unions rejected the offer and workers are on the living wage, which went up to £11.44 an hour last month – less than the amount that was offered.
Next – plugged by stars Rochelle Humes, Myleene Klass and Gary Lineker – pays a fortune to chief Lord Wolfson.
The Brexiteer’s 2023-24 base salary was £908,000, with benefits of £36,000 and a £136,000 pension. His annual bonus was £1,362,000, plus a so-called longterm incentive plan worth £2,072,000 and £6000 in a share save scheme.
Lord Wolfson of Aspley Guise, who has donated hundreds of thousands of pounds to the Conservatives, has been a peer since 2010.
He sparked controversy in 2015 when claimed the firm’s £6.70-an-hour pay was “enough to live on”. He was branded “an out-of-touch arrogant hypocrite”.
Union of Shop, Distributive and Allied Workers national officer Mark Todd said: “Usdaw is in ongoing pay negotiations with Next. The company’s initial offer was rejected by our members and we have continued in positive discussions with management, seeking to secure an improved offer that can be put to another ballot.
“In the meantime, staff have had their pay lifted to minimum wage levels to ensure compliance with the law. Usdaw is focused on securing a fair pay award that reflects their significant contribution to the profitability of the business.”
Clothing, homeware and beauty firm Next started life as J Hepworth & Son, a gent’s tailors in Leeds.
Next did not comment.
We are seeking a fair pay award that reflects their significant contribution
MARK TODD WORKERS’ UNION REP