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The global fashion business journal

19 Jun 201920:47

Inditex distributes 32 million within 92,000 employees with more than two years of seniority

It is the second part of the extraordinary plan of workers’ participation in the growth of company’s benefits between 2018 and 2019.

 

12 Jun 2019 — 09:45
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Inditex distributes 32 million within 92,000 employees with more than two years of seniority

 

Inditex rewards its staff. The company shared last april an amount of 32 million euros within 92,000 employees of stores, factory, logistics, chains and subsidiaries with more than two years of seniority.

 

It is the second part of the extraordinary plan of workers’ participation in the growth of company’s benefits between 2018 and 2019. Through this plan, the group distributes 10% of net benefit’s increase.

 

Following this pattern, the amount to distribute in 2018 would have been worth seven million euros, which Inditex incremented in plus 25 million euros. In total, 153 million euros have been shared within the two years of validity of participation’s plan.

 

 

 

 

The group has reduced this year in 24% the bonus in comparison with 2016 and 2017 exercises, when the total incentive arrived to 42 million euros. Inditex started this plan in two years of incentives to the staff in 2014. After its execution in 2015 and 2016, the group decided to widen it two years more.

 

However, for 2019, the company already announced the previous May, on the presentation of the annual results that was adjusting its variable retribution policy to the employees. In the case of store’s staff, the incentive will be linked to the raise of sales.

 

Inditex has recovered the rhythm in the first semester of 2019. The company has finished the first three months of exercise with a raise of 10% in the net benefit, which has positioned in 734 million euros, and a raise of 5% in sales, up to 5,927 million euros.

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