We’re not in the money.. £4m boss halves Argos £10 bonus
THE millionaire boss caught on camera singing “We’re in the money” has halved Argos staff’s Christmas bonus to just £5.
Workers used to get £10 towards a seasonal bash before a takeover by Sainsbury’s – headed by Mike Coupe.
He was mocked after singing the 42nd Street ditty before an interview about a possible Sainsbury’s-Argos merger. Argos’ 16,000 sales staff earn a typical £11,931 a year.
That contrasts with the £ 3.9million package Mr Coupe pocketed after his bonus soared to £593,000.
Staff were told their bonus was cut to match Sainsbury’s, which bought Argos for £1.4billion in 2016. One insider said: “Argos cut the bonus to just a fiver in the same year the CEO takes £3.9million. It brings it in line with Sainsbury’s, rather than raise Sainsbury’s to £10. Great company.”
The supermarket giant has already faced controversy over plans to cut paid breaks, special rates for Sundays and annual bonuses for its 130,000 shopworkers. Dave Gill, of union Usdaw, said: “Given the company states they want ‘ to create a fantastic team spirit’ with parties, this cut in budget could be seen as mean spirited. We have asked them to reconsider.” Argos made no comment. s.hayward@sunday
mirror.co.uk WHEN your dad’s Wayne Rooney you don’t have to fish around for a posh half-term holiday.
Mum Coleen has sent her sons including nine-year-old Kai to Barbados accompanied by her parents Tony and Colette.
When Kai wasn’t catching fish he was busy with his gadgets, including an £800 iPhone 11 pro.