More than 100,000 Woolworths Group team members in Australia and New Zealand will be given an ownership stake in the company as recognition for their efforts and contribution during a year of unprecedented challenges.
Each eligible full-time team member within the group will receive up to $750 worth of Woolworths Group shares for them to keep or sell in the future, with part-time eligible team members allocated shares on a pro-rata basis. These shares are available to those employed before March 1, 2020 who do not already participate in the group’s short-term incentive schemes (STIs).
As a result of this offer, Woolworths Group claims it will have the largest number of shareholder team members in the Australian and New Zealand markets.
Those eligible full-time and part-time team members will also receive $250 in Team Member PlusCard credits. Australian casual team members employed before 1 March, 2020 will receive $100. The PlusCards will be available to spend like a gift card in Woolworths supermarkets, Metro, Big W and BWS stores.
Casual team members in Australia who joined the group on or after 1 March, 2020 to help the group navigate the COVID-19 demand surge will be able to keep their team discount until the end of December this year, irrespective of whether they stay with the group or not.
