More than 70,000 employees at Inditex, the retail group that owns brands including Zara (pictured), Pull and Bear and Massimo Dutti, while share a bonus payout of the organisation’s year-on-year profit under a new profit share scheme.
The fashion retailer’s profit share scheme will award a 10% share of growth in consolidated profit attributable to the controlling company up to a cap of 2% of total profit to employees that have been working at the organisation for at least two years.
Under the plan, employees will share the bonus based on Inditex’s earnings growth in 2015 and 2016.
In its last financial year, the organisation posted a 5% rise in sales and profits worth £1.7 billion.
All eligible employees in the organisation’s stores, manufacturing, logistics, concepts and subsidiaries across its operating countries will benefit from the scheme, which will run for two years.
The first part one of the bonus will be awarded in 2016 on the basis of profit growth in 2015 and part two of the bonus will be paid to eligible employees in 2017, based on 2016 growth.
A statement from the organisation said: “In view of the performance of the group over recent years, a special profit sharing plan has been approved under which employees will participate in Inditex’s earnings growth in 2015-2016.”