Supermarket chain Woolworths will gift more than 100,000 employees a $750 stake in the company as thank you gesture for their work during the Coronavirus pandemic.
The initiative is available to full-time team member who was employees prior to March 1.
They will receive $750 of Woolworths Group shares.
Employees have been told they are free to sell them straight away or keep them to cash in at a later date.
Part-time members will also be able to get some shares and they will be allocated on a pro-rata basis but only for those who do not participate in the short-term incentive scheme.
Casual workers who joined during the pandemic will be able to keep their team member discounts for the rest of 2020, whether they continue to work for the company or not.
“We could think of no better way to thank and recognise our team than by making them shareholders in our Group,’’ Woolworths CEO Brad Banducci.
“The awarding of shares is not only recognition for our team’s efforts over the last year, but also an acknowledgement that our team has a critical role to play going forward as we all adjust to the new normal.”