Thousands to benefit from Weir share plan

Weir Group, the Scottish engineering heavyweight, has unveiled a share plan that promises to give its thousands of staff a stake in the business.

The scheme, which will involve an award of £300 in both 2019 and 2020 to those employees with at least one year’ s service, will allow staff to become a Weir shareholder, with the option of building their ownership over time.

The Glasgow-headquartered group employs around 15,000 people globally, including 750 in the UK. Its workforce ranges from about 3,500 people in the United States to a single employee in Burkina Faso in West Africa.

Chief executive Jon Stanton said :“We’ re delighted to be able to give our people, in ever y corner of the world, the chance to become co-owners of our business. It reflects our values as a company.”

Rose mary McGinness, chief people officer, added: “Developing the scheme has been a complex task given the number of countries we operate in and the different approaches to employee ownership.”