The boss of Tesco earned more than £4.4m last year despite profits halving at the supermarket and many customers having to buy less as price rises forced them to cut back
Tesco said the chief executive would get a salary rise of 3 per cent next year, “considerably lower” than the 8 per cent store staff received.
Tesco, Britain’s biggest retailer, raised hourly pay for about 220,000 store workers in April. The supermarket said the increase, the third in less than a year, was part of a £430m investment in pay. Tesco’s top executive pay arrangements also come at a sensitive time for supermarket bosses. In March, UK food and drink inflation rose to 19.1 per cent, the highest level since 1977. The Unite union accused some retailers of “fuelling inflation by excessive profiteering”.
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