Just thought this was so appropriate to post, considering our present predicament.
NEXT is a clothing retailer in the UK.
NEXT boss Lord Wolfson is handing over his £4million annual bonus to the clothing retailer's 20,000 staff.
In a letter to staff the chief executive said those who had worked for the firm since April 2011 will receive a bonus of around 1.5 per cent of their salary as part of their May pay packet.
This means a shopfloor worker earning £20,000 a year will collect around £200.
It is the second year in a row that Wolfson has waived his bonus and shared it with staff.
In addition he announced that sales staff and stock room assistants, the lowest paid members of its workforce, will see a 37p an hour increase in their pay rate from June 1.
Wolfson said his bonus, linked to the group's share price which has trebled in value to just shy of 6500p in just three years, had become "more valuable than I could possibly have hoped".
He added: "I hope you will accept this bonus as a gesture of appreciation for all your hard work and dedication to Next.
"Thanks to you Next has emerged in better shape than before the credit crunch."
His annual pay will be revealed in its annual report tomorrow.
Last year he received £4.6million.
Next boss Lord Wolfson shares his £4million bonus with 20,000 of his retail staff | City & Business | Finance | Daily Express