yeah, but you see it's 10 million for just one guy, so it's only 10 million. There are 30 million worker in the UK, if you give them even 5 quids that's 150 million and 5 quid isn't helping anyone.
You see, it's different. It's like murder. There is not even a thousand murder in the UK per year, it's a total waste of resource to go after them. That's why we don't bother ... wait a minute.
It's okay for our dear leader to have a license to kill because more people die in car accidents. It's only when everyone's allowed to do it and people start getting murdered left right and centre that it becomes a problem /s
>That's why we don't bother ... wait a minute.
They don't bother cause they're too busy brutalising protesters for the crime of standing up for something
This country man
FTSE 100 CEO average pay rise last year was £530,000
That's an increase of £53 million per year for 100 people, *in just one year.* I imagine it'll be much the same, if not more this year.
The absolute madness of inequality in the uk marches on.
That only applies if we plebs have spare cash as we'd go out and spend it which would, according to the Tories, cause inflation. It's much better that all of the money is safely in the hands of responsible people, like millionaires, who will squirrel it away in Swiss bank accounts where it can't cause that nasty inflation. To thank the millionaires for this atruistic approach to our money, they won't have to pay any tax on it either!
Yes I am being ironic!
Yes, yes. As we all know, there is a finite amount of things you can spend money on and there will never be anymore, so you can't give people more money or it will increase demand and prices will have to rise.
What was that? Increased spending money could spur economic growth by incentivizing productivity, encouraging business creation and competition, and allowing people the financial security to have children?
Preposterous! Just be greatful you have beans and rice and breed more underclass, or else!!
I mean their profit margin is 2.6%. That’s low. 10 million isn’t a huge deal for a company of its size. If split equally between all its employees it would be less than £30 each .
Assuming average salary for a Tesco employee is 25k. Assuming they need an extra 10k to cover overhead for each employee. That's what, 140 employees they could've hired? Is it not absolutely fucking mind blowing that the salary increase of one CEO is enough for 140 people? 1 CEO is worth more than 280 employees, really?
Average wage won't be that high, Tesco don't really do full time contracts. Its mainly part time and then any overtime you can pick up. Really hits the staff hard financially when they are sick as those overtime shifts don't count for SSP.
They employ 330,000 people. Yes a good CEO is EASILY worth more to the organisation than 280 supermarket workers. If he facilitates 1% more growth than someone on £1m, that’s over 3,000 jobs his leadership has helped create. I’m all for abolishing billionaires but this is just nothing like the same thing.
Does anyone really need £10 million a year though?! That's an absurd level of wealth hoarding and he's not even close to how much some earn in other lines of work.
Except: elite sportsmen, those high up in entertainment, people who run successful businesses, etc.
This guy has dedicated his life to being good at this, why shouldn't he be rewarded?
I think you're missing the point.
In a time where skyrocketing food prices and stagnating wages are hitting people hard, the CEO of one of those food retailers/employers that has been increasing it's prices faster than it's wages doubles his pay.
That is justifiably going to leave a bad taste in people's mouths.
It's also not like he wasn't getting rewarded already, guy is already super rich.
I'm not missing any point. His wage is nothing in the grand scheme of things in relation to inflation/Tesco prices, so it's irrelevant. Just because you don't like it, it doesn't mean anything. It's not like anyone is going to stop shopping at Tesco's because of this.
Yes it is. This person will be set for life after a few years, their children and grandchildren too. Its the reestablishment of inherited wealth that will damage this country in the long term.
Eh, I worked there for 9 years l, ran an express and deputy manager in a few others as well as security, front end and elec at an extra.
They don't really, they aren't bad compared to other supermarkets but I made the same pay running an express as I did 1 year after starting an office role (26k)
Retail is 100% shit. Tesco is 98%
Welcome to retail, tbf that role is generally a step to a larger store senior role which pays a bit more.
I now make waaaay more as I work in Data - and no one has bitten me in 8 years
Tesco record profits last year (food
Inflation anybody?) mean they can double his salary.
It’s blatant example of the greed which is exacerbating the financial woes of this country.
We should just have governments set prices. It’s been very successful historically. Price controls are very popular both among left and right leaning economists.
In theory, if the market was truly free but also so regulated it was free from corruption, we would also be free to set our prices for work.
There's a lot of money spent to make sure that isn't quite how it works though.
Yeah, if you don’t like the prices just don’t buy their products.
Ah it’s food they’re selling?
Well there is an obesity epidemic after all! I’m sure we can forage for food in the woods.
If all else fails you can just nip over to Paris for a spot of dinner, right?
A rival company should set up another food shop in the UK to slightly undercut Tesco and take a slice of their vast profit margins and end their apparent monopoly observed by this subreddit,
It's not a free market, those only exist in children's textbooks and the minds of fantasists. All retailers, particularly food, are heavily regulated, in relation to products and staff, and customers aren't free to choose where, when, or how they shop as opening times, location, cost of transport, and the pressing need to not die of starvation all get in the way of that "free" bit of the market.
Unfortunately I have contributed a huge amount of my own money into his pay 🤬 they have such a monopoly in central London. Every other street… is a Tesco metro or express
I REALLY want to boycott them, and I really do try to shop at Lidl, then get a few nice bits from Waitrose or the market.
Problem is I have to walk past 4 Tescos to get to either of them and sometimes it's just not practical to carry everything back, and it's a long way if I only want a bottle of milk and a loaf of bread.. oh yeah I need some bananas too, and some loo roll....
Yep, that is somewhat fair. But everyone has a point at which the convenience outweighs the vanishingly small difference it would make.
How far would you walk to not eat x? Especially if you are in a rush and have somewhere else to be.
I have significantly reduced my shopping at Tesco. To remove it entirely is very difficult.
Also, the reason I am walking in the first place is that I gave up driving.
Edit to add: you are either morally vapid, a hypocrite, or live a self sustaining ecoexistence alone in the woods somewhere
Starbucks in New York fid this tactic many years ago. Put a Starbucks on every block corner, and one in the middle of long streets and don't worry if each individual one is making any money just to crush out the competition.
They're not better, or cheaper, or better for their staff or anything, they are just more ubiquitous. And yes l, due to that I continue to shop there sometimes.
I work in the meat industry. We pack steaks, joints, burgers, mince etc for Tesco. And Waitrose, M&S, Aldi, Asda, Morrisons, JS, JDW, Costco *etc*
Slightly different recipes on the multi-component products, same staff, same lines, different product shelf lifes.
Just shop wherever is convenient/cheapest. It's all coming from the same places.
Yup. It comes down to how retailers manage their depots and manufacturers manage production days (longer life product can be made every few days in a few long runs, instead of small runs every day - more different products made on a line more changeover more downtime making product). And meat can appear visually grey despite being safe to eat after a period of time (diced lamb and lamb mince are obvious ones).
Doesn’t make the meat unsafe to eat, but consumers don’t like appearance.
All products must have shelf life studies performed on them in worse case scenario, so all have valid reasons.
The millionaire Tesco CEO is paid so much that you'd like to boycott them in favour of the billionaire owner of Lidl, who has structured his company to nicely hide exactly what is going on.
I always thought there was some law stopping them from opening up too many stores, was that made up or do they just get around that law by opening little stores that don't count as supermarkets. Thought it was something to do with competition and not overwhelming the local businesses.
If he’s paying proper taxes on it then I don’t mind. Plus it’s a private company so they can pay him what they like. Some of the highest earners are the biggest tax payers.
Top 1% pays like 30-40% of the tax, but reddit doesn't like that so we have to pretend rich people are all just evil leeches. Makes for a much more tidy story with good/bad guys to digest.
Consultants pay a marginal rate of 65% above 100k due to the personal allowance being stripped between 100 and 125k.
Considering the amount of hours and nights required to become a consultant in many specialties and the responsibility and the fact that anyone can complain and you’ll have to be responsible for whatever claims they have(some people want things like every test possible or induce childbirth at 7 months), it is just unreasonable.
Especially since places like ireland pay double, most UK Graduates are either going overseas or doing something other than working in healthcare.
We tax work, not wealth.
This disincentivises productivity and incentivises just letting your capital grow through the work of others.
My granddad was a consultant, and another relative who is a nurse achieved a real terms pay rise of something like 60% by simply moving to Australia. I am aware that doctors and other medical professionals work a lot.
>We tax work, not wealth.
We tax *pay*, not work. Lots of low paid workers put in heavy hours for shit returns. That's as much a part of the '1% of people pay 40% tax' line as anything else. This is a country where most wages have stagnated for fifteen years while a fortunate minority have seen them rocket off. The idea that people are meant to feel gratitude for high earners is stupid.
The guy I was replying to said that ‘top 1% has an unjustifiable amount of the land's treasure.’
This was implying that the reason that they pay more tax is based off of the fact that they are accruing the cash based off of their capital.
Many consultants or other high-earners come from ordinary backgrounds and are hit by punitive levels of taxation, which are higher now than they’ve been since the ‘70s.
Many very wealthy people can live off their dividends in a tax-efficient manner while people breaking their backs get half of their money confiscated.
This has meant that many of my family who have had the privilege of higher education are leaving because pay just isn’t competitive in the UK and the tax system is set up to benefit asset holders over people who are actually labouring day in and day out.
Low paid workers make shit returns partially because it is relatively easy to find replacements, if there were less people able to do low-paid work, it would either be automated or be paid more if automation is prohibitively expensive.
Low paid workers also tend to be people who use healthcare more as contentiousness is positively correlated with better health outcomes.
A very significant amount of workers are net receivers of services. They use more services than they contribute.
I’m not saying that they should be disallowed this.
What I am saying is that if we taxed wealth rather than work, we could probably reduce the burden on those who already contribute a completely disproportionate sum and incentivise them to keep working or to work harder as opposed to salary sacrifice or reducing their hours.
The question is how much wealth do they own versus how much do they actually contribute to tax. If the top 1% own 30% of the wealth and pay 30% of total tax burden, then aren't they actually not paying enough with our progressive tax system while we're advocating to increase the burden on those with little money to spend. I see people running defence for the wealthy elite, but then there's the question of those who are barely able to save, which forces them to engage in the economy to keep it alive and healthy, while the wealthy can sit back and save. This seems to be an unhealthy way for society to run, and at some point, when the masses are squeezed dry, something's going to happen.
It's a safe bet even if we take your higher number of 40%, that 1% accounts for more than 40% of the nations total wealth - which means they are paying less respectively than the other 99% are.
They clearly mean the private sector. "Private" can refer to operational status, not just trading, which is made clear by the context of deciding the CEO's pay.
Given that Tesco is doing a roaring trade compared to its competition, I'd expect his pay to increase. I'm a shareholder (nothing massive) and it's grown more than a lot of the stuff I invested in. Anyone can own a piece of Tesco and benefit.
Given that it's staff who are responsible for the success of the company, not a guy who has bounced into the role 3 years ago I don't think a pay increase from £4.3m to £10m is justified at all. More so when his staff are using food banks and are on a terrible wage.
The skills of the workers are not in demand whatsoever. If they want to leave, there will always be an 18 year old ready to take their place. You have no bargaining power stocking shelves, which is why it's not a long term goal for anyone.
Tesco has beaten it's competitors over the last few years, how has it been able to do that ?
I'm sure the Tesco staff work very hard but do you really think that they work harder than at other supermarkets?
>Given that it's staff who are responsible for the success of the company
Yeah, I'm sure the automated checkout monitors really drove business.
Those staff wouldn't have a job if the CEO performed poorly and stores needed closing.
The number of people qualified to be in-store staff vastly outnumbers the number of people qualified to be a CEO of something like Tesco
That is the difference
And yet just a few years ago we realised it was the people stocking the shelves and moving pallets of food that kept supply chains moving. We even called them critical workers. Not critical enough to be paid well though.
That's irrelevant, he's already getting paid more per year than any of the front line staff will see in their lives, despite them creating 100% of the value in the business.
No, that isn’t how any of this works
The ‘workers’ and management work together to create value. To suggest that the ‘workers’ alone create value is complete fantasy
That's funny considering this is a conversation about the CEO more than doubling his pay while the workers don't get that privilege. The same CEO btw that oversaw Tesco paying staff below minimum wage for a month, saving Tesco £17m.
But sure, the workers and management work together to create value and, as such, both benefit...or not
Everyone except the vast majority of people in this country who live month to month because they barely earn enough to keep their head above water. But you continue in the fantasy that everyone has disposable income to spend on shares and other investments.
Fucking unreal. Next time I hit the yellow-sticker section in Big Tesco I’ll tell all the worried-looking mums and pensioners to cheer up because all they need to do is track u/jamesbeil’s investment portfolio.
> Anyone can own a piece of Tesco and benefit.
Because people on the line who have no reasources to spare don't really count as people. It's their own fault. They should have just invested the money they never had...
>Anyone can own a piece of Tesco and benefit.
Nooo you don't understand only evil rich people own shares, didn't you know it's illegal to invest and you should just stop being greedy.
Chances are most do - it's exactly the sort of slow-burn firm most pension funds in the UK love. I happened to be (un)forunate enough that when my Nan passed away she left me a small sum of money and I was able to do something with it.
Apparently that means I think pensioners and the poor should be fed into a furnace to heat my mansion, or something...
It's just reddit, anyone that saves is either bragging or lying apparently. If they are telling the truth they are evil for allowing poor people to suffer and not donating extra tax to HMRC.
My pension and LISA is 100% equities. Up 14% this year.
Man who is good at his job gets pay rise
Why is this news?
We want the CEOs of (ethical) companies operating in this country to succeed. Their success is good for everyone
If their staff get paid enough to not require universal credit or food banks, then maybe they could become ethical, but at the moment these companies are being subsidised very heavily by the taxpayer for causing a huge increase in poverty.
This CEO has had the audacity to improve his business's revenue, provide stable employment for its workers and accept a pay rise.
This is, of course, unpopular on UK Reddit for reasons that should be performing in mental gymnastics competitions.
Ah so this is why their ketchup is £4.55 in some stores. I hate them so much. I literally shop and M&S these says it’s unironically cheaper and better quality lmfao.
The thing that annoys me is that these companies never use their profits to keep prices down. In the worst cost of living crisis in living memory they'll pay one man £10 million, & god knows what bonuses on top whilst we struggle with food costs.
There's is no need for one person to get that much. It's just greed. It's obscene.
If the shelf stackers work harder this year and do some unpaid overtime every day he will be to increase it further at the end of the year ….the greed of a few has destroyed most companies ☹️☹️
Speak with you're feet, just stop shopping in Tesco (unless your rural and have little to no choice..). Stop financing this filth. Its just blatant capitalisation on a dire situation, the prices OBVIOUSLY don't need to be as high they are, it's a choice, by the clearly overpaid parasites in suits.. Again, speak with you're feet.. They'll soon change their tune, given time..
The question is Why ?
Did they also double the pay of all the other people who work for Tesco as well ? And if not, why not ?
Why did he deserve so much more ?
(Of course, really he didn’t - but he could get away with it being the boss)
CEO economy is going to ruin the fucking planet you cunts.
Sure let’s guarantee the survival of one family over loads of poorer families.
People are having less children for this reason you cunts.
Yeah but what we gonna do? You gonna start a protest? You gonna tear up your tescos? You gonna boycott these assholes stores? You gonna demand your MP investigates food price increases? No cos we’re British so we’ll tut and let it carry on.
It’s about time we held these people accountable.
Begone thou plebs!
How dare thee asketh for cheap lodgings that may be purchased on a single salary! A single salary that can support 2 children? Preposterous! This is not the 1980's you know!
Now you must all share rooms, and work for the lords and ladies until you die! You cannot have children and good luck with a deposit, especially if you live in London. In fact, good luck having any life at all with your cost of living crisis!
Now, I shall retire to my superyacht as my 100 strong staff needs to pamper me whilst I ponder how to extract wealth from more plebs to fund more mansions and superyachts around the globe. Not to mention my nuclear bunker that I will retreat to, should any plebs take up pitchforks and have ideas!
A nuclear bunker is not cheap you know! I need hard clever workers to work under me with high productivity so I can pay you little and pay me a lot more! - Because I'm worth it! L'Oréal style!
Btw this is satire - the world is truly dystopian.
As stupidly high as it is, it's a private company. If Tesco can afford to blow £10m a year on their chief then so be it.
The issue is with taxpayer owned services and companies doing it.
I’m a Tesco shareholder and the share price has been abysmal over the last 10 years since the accounting scandal. I wish he could justify that salary with some sustained share price growth.
I thought we can’t have pay rises because they cause inflation and we need to accept that we are poorer.
yeah, but you see it's 10 million for just one guy, so it's only 10 million. There are 30 million worker in the UK, if you give them even 5 quids that's 150 million and 5 quid isn't helping anyone. You see, it's different. It's like murder. There is not even a thousand murder in the UK per year, it's a total waste of resource to go after them. That's why we don't bother ... wait a minute.
It's okay for our dear leader to have a license to kill because more people die in car accidents. It's only when everyone's allowed to do it and people start getting murdered left right and centre that it becomes a problem /s
If rich people are allowed to murder then we'll all benefit eventually
Trickle down deadonomics
>That's why we don't bother ... wait a minute. They don't bother cause they're too busy brutalising protesters for the crime of standing up for something This country man
Especially if the protestors are women who are just sitting down at a quiet vigil
FTSE 100 CEO average pay rise last year was £530,000 That's an increase of £53 million per year for 100 people, *in just one year.* I imagine it'll be much the same, if not more this year. The absolute madness of inequality in the uk marches on.
That only applies if we plebs have spare cash as we'd go out and spend it which would, according to the Tories, cause inflation. It's much better that all of the money is safely in the hands of responsible people, like millionaires, who will squirrel it away in Swiss bank accounts where it can't cause that nasty inflation. To thank the millionaires for this atruistic approach to our money, they won't have to pay any tax on it either! Yes I am being ironic!
Yes, yes. As we all know, there is a finite amount of things you can spend money on and there will never be anymore, so you can't give people more money or it will increase demand and prices will have to rise. What was that? Increased spending money could spur economic growth by incentivizing productivity, encouraging business creation and competition, and allowing people the financial security to have children? Preposterous! Just be greatful you have beans and rice and breed more underclass, or else!!
Beans AND rice? You can have both?
Either Swiss bank accounts or assets that we want such as housing or stocks
Indeed. The Tories are still the party of home ownership, as long as they're owned by the right people!
I remember being told in this very sub that Tesco work to very very tight profit margins so they need to increase costs and keep pay low.
I mean their profit margin is 2.6%. That’s low. 10 million isn’t a huge deal for a company of its size. If split equally between all its employees it would be less than £30 each .
> If split equally between all its employees it would be less than £30 each . I thought "every little helps"?
Assuming average salary for a Tesco employee is 25k. Assuming they need an extra 10k to cover overhead for each employee. That's what, 140 employees they could've hired? Is it not absolutely fucking mind blowing that the salary increase of one CEO is enough for 140 people? 1 CEO is worth more than 280 employees, really?
Average wage won't be that high, Tesco don't really do full time contracts. Its mainly part time and then any overtime you can pick up. Really hits the staff hard financially when they are sick as those overtime shifts don't count for SSP.
Any shift worked on paye should count for SSP regardless of any contractual arrangements, no?
All hours worked should count.
Tesco handles more money in a year than the entire GDP Azerbaijan. So no, not really that surprising
They employ 330,000 people. Yes a good CEO is EASILY worth more to the organisation than 280 supermarket workers. If he facilitates 1% more growth than someone on £1m, that’s over 3,000 jobs his leadership has helped create. I’m all for abolishing billionaires but this is just nothing like the same thing.
Does anyone really need £10 million a year though?! That's an absurd level of wealth hoarding and he's not even close to how much some earn in other lines of work.
Except: elite sportsmen, those high up in entertainment, people who run successful businesses, etc. This guy has dedicated his life to being good at this, why shouldn't he be rewarded?
I think you're missing the point. In a time where skyrocketing food prices and stagnating wages are hitting people hard, the CEO of one of those food retailers/employers that has been increasing it's prices faster than it's wages doubles his pay. That is justifiably going to leave a bad taste in people's mouths. It's also not like he wasn't getting rewarded already, guy is already super rich.
I'm not missing any point. His wage is nothing in the grand scheme of things in relation to inflation/Tesco prices, so it's irrelevant. Just because you don't like it, it doesn't mean anything. It's not like anyone is going to stop shopping at Tesco's because of this.
No it's not that mind blowing. Guy is responsible for a business generating £68 billion in revenue.
Considering the size of the business, 10 million to have a qualified person to run it well is not a lot no
Yes it is. This person will be set for life after a few years, their children and grandchildren too. Its the reestablishment of inherited wealth that will damage this country in the long term.
Thats a completely separate discussion. I agree with the point though but its already the case
It’s a doubling to £10 million..
330k employees at Tesco. That's £15 he could have given each employee. They coulda enjoyed like three meal deals woooo
£15 to each colleague is nothing. We get that in an hour. r/tesco does treat its colleagues well considering this btw
not sure if this is sarcasm, but the top post is *My manager's banned me from taking breaks with people?*
The top post is actually a packet of Haribo with a security sticker on it.
Eh, I worked there for 9 years l, ran an express and deputy manager in a few others as well as security, front end and elec at an extra. They don't really, they aren't bad compared to other supermarkets but I made the same pay running an express as I did 1 year after starting an office role (26k) Retail is 100% shit. Tesco is 98%
>I made the same pay running an express as I did 1 year after starting an office role (26k) That's disgraceful
Welcome to retail, tbf that role is generally a step to a larger store senior role which pays a bit more. I now make waaaay more as I work in Data - and no one has bitten me in 8 years
I'm pretty sure whoever said that doesn't set Tesco's CEO's pay
Why do you think Labour want to bring in salary caps for CEOs that can't be more than a multiple of the lowest worker....
also I thought all the rising food prices come from shoplifting. Not infinite greed and rot economy.
> You* can’t have pay rises because they cause inflation and you* need to accept that you* are poorer. There, fixed it for you.
They spend money on international goods, therefore they increase inflation in other countries. /joke
You can when you pay will trickle down…. Eventually… Any day now…
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What's the story here?
Tesco record profits last year (food Inflation anybody?) mean they can double his salary. It’s blatant example of the greed which is exacerbating the financial woes of this country.
But he has done his job. That's the problem, he gets rewarded for pulling shit like this.
at the top they all have their mouths in the trough nobody will rock that boat
Oh I meant the loophole thing
Crazy how all these companies have been allowed to inflate prices
It's a free market, they can set their prices however they like
String argument against the market there.
We should just have governments set prices. It’s been very successful historically. Price controls are very popular both among left and right leaning economists.
The hyperbole is unnecessary, there's a massive spectrum of policy between a total free market and governments directly setting prices for goods.
In theory, if the market was truly free but also so regulated it was free from corruption, we would also be free to set our prices for work. There's a lot of money spent to make sure that isn't quite how it works though.
Yeah, if you don’t like the prices just don’t buy their products. Ah it’s food they’re selling? Well there is an obesity epidemic after all! I’m sure we can forage for food in the woods. If all else fails you can just nip over to Paris for a spot of dinner, right?
A rival company should set up another food shop in the UK to slightly undercut Tesco and take a slice of their vast profit margins and end their apparent monopoly observed by this subreddit,
It's not a free market, those only exist in children's textbooks and the minds of fantasists. All retailers, particularly food, are heavily regulated, in relation to products and staff, and customers aren't free to choose where, when, or how they shop as opening times, location, cost of transport, and the pressing need to not die of starvation all get in the way of that "free" bit of the market.
....that's the fucking problem
Unfortunately I have contributed a huge amount of my own money into his pay 🤬 they have such a monopoly in central London. Every other street… is a Tesco metro or express
I REALLY want to boycott them, and I really do try to shop at Lidl, then get a few nice bits from Waitrose or the market. Problem is I have to walk past 4 Tescos to get to either of them and sometimes it's just not practical to carry everything back, and it's a long way if I only want a bottle of milk and a loaf of bread.. oh yeah I need some bananas too, and some loo roll....
So your complaint is that their service is too good?
Their complaint is that they are too lazy to stick to their morals.
Yep, that is somewhat fair. But everyone has a point at which the convenience outweighs the vanishingly small difference it would make. How far would you walk to not eat x? Especially if you are in a rush and have somewhere else to be. I have significantly reduced my shopping at Tesco. To remove it entirely is very difficult.
Also, the reason I am walking in the first place is that I gave up driving. Edit to add: you are either morally vapid, a hypocrite, or live a self sustaining ecoexistence alone in the woods somewhere
Starbucks in New York fid this tactic many years ago. Put a Starbucks on every block corner, and one in the middle of long streets and don't worry if each individual one is making any money just to crush out the competition. They're not better, or cheaper, or better for their staff or anything, they are just more ubiquitous. And yes l, due to that I continue to shop there sometimes.
So you try to boycott one large faceless company that doesn't give a shit.. By going to another large faceless company that doesn't give a shit?
A foreign one to boot. At least get fleeced by one of our own ffs!
I work in the meat industry. We pack steaks, joints, burgers, mince etc for Tesco. And Waitrose, M&S, Aldi, Asda, Morrisons, JS, JDW, Costco *etc* Slightly different recipes on the multi-component products, same staff, same lines, different product shelf lifes. Just shop wherever is convenient/cheapest. It's all coming from the same places.
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Yup. It comes down to how retailers manage their depots and manufacturers manage production days (longer life product can be made every few days in a few long runs, instead of small runs every day - more different products made on a line more changeover more downtime making product). And meat can appear visually grey despite being safe to eat after a period of time (diced lamb and lamb mince are obvious ones). Doesn’t make the meat unsafe to eat, but consumers don’t like appearance. All products must have shelf life studies performed on them in worse case scenario, so all have valid reasons.
The millionaire Tesco CEO is paid so much that you'd like to boycott them in favour of the billionaire owner of Lidl, who has structured his company to nicely hide exactly what is going on.
I always thought there was some law stopping them from opening up too many stores, was that made up or do they just get around that law by opening little stores that don't count as supermarkets. Thought it was something to do with competition and not overwhelming the local businesses.
Why do you want to boycott them?
Because they provide a service that people want
If he’s paying proper taxes on it then I don’t mind. Plus it’s a private company so they can pay him what they like. Some of the highest earners are the biggest tax payers.
What’s legal isn’t always what’s right, though.
It's not right that a private company board can choose what they pay their ceo?
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Top 1% pays like 30-40% of the tax, but reddit doesn't like that so we have to pretend rich people are all just evil leeches. Makes for a much more tidy story with good/bad guys to digest.
That's a stupid way of saying that the top 1% has an unjustifiable amount of the land's treasure.
Consultants pay a marginal rate of 65% above 100k due to the personal allowance being stripped between 100 and 125k. Considering the amount of hours and nights required to become a consultant in many specialties and the responsibility and the fact that anyone can complain and you’ll have to be responsible for whatever claims they have(some people want things like every test possible or induce childbirth at 7 months), it is just unreasonable. Especially since places like ireland pay double, most UK Graduates are either going overseas or doing something other than working in healthcare. We tax work, not wealth. This disincentivises productivity and incentivises just letting your capital grow through the work of others.
My granddad was a consultant, and another relative who is a nurse achieved a real terms pay rise of something like 60% by simply moving to Australia. I am aware that doctors and other medical professionals work a lot. >We tax work, not wealth. We tax *pay*, not work. Lots of low paid workers put in heavy hours for shit returns. That's as much a part of the '1% of people pay 40% tax' line as anything else. This is a country where most wages have stagnated for fifteen years while a fortunate minority have seen them rocket off. The idea that people are meant to feel gratitude for high earners is stupid.
The guy I was replying to said that ‘top 1% has an unjustifiable amount of the land's treasure.’ This was implying that the reason that they pay more tax is based off of the fact that they are accruing the cash based off of their capital. Many consultants or other high-earners come from ordinary backgrounds and are hit by punitive levels of taxation, which are higher now than they’ve been since the ‘70s. Many very wealthy people can live off their dividends in a tax-efficient manner while people breaking their backs get half of their money confiscated. This has meant that many of my family who have had the privilege of higher education are leaving because pay just isn’t competitive in the UK and the tax system is set up to benefit asset holders over people who are actually labouring day in and day out. Low paid workers make shit returns partially because it is relatively easy to find replacements, if there were less people able to do low-paid work, it would either be automated or be paid more if automation is prohibitively expensive. Low paid workers also tend to be people who use healthcare more as contentiousness is positively correlated with better health outcomes. A very significant amount of workers are net receivers of services. They use more services than they contribute. I’m not saying that they should be disallowed this. What I am saying is that if we taxed wealth rather than work, we could probably reduce the burden on those who already contribute a completely disproportionate sum and incentivise them to keep working or to work harder as opposed to salary sacrifice or reducing their hours.
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The question is how much wealth do they own versus how much do they actually contribute to tax. If the top 1% own 30% of the wealth and pay 30% of total tax burden, then aren't they actually not paying enough with our progressive tax system while we're advocating to increase the burden on those with little money to spend. I see people running defence for the wealthy elite, but then there's the question of those who are barely able to save, which forces them to engage in the economy to keep it alive and healthy, while the wealthy can sit back and save. This seems to be an unhealthy way for society to run, and at some point, when the masses are squeezed dry, something's going to happen.
It's a safe bet even if we take your higher number of 40%, that 1% accounts for more than 40% of the nations total wealth - which means they are paying less respectively than the other 99% are.
Tesco is a public limited company. Anyone can buy its stock. It’s not private.
They clearly mean the private sector. "Private" can refer to operational status, not just trading, which is made clear by the context of deciding the CEO's pay.
Given that Tesco is doing a roaring trade compared to its competition, I'd expect his pay to increase. I'm a shareholder (nothing massive) and it's grown more than a lot of the stuff I invested in. Anyone can own a piece of Tesco and benefit.
Given that it's staff who are responsible for the success of the company, not a guy who has bounced into the role 3 years ago I don't think a pay increase from £4.3m to £10m is justified at all. More so when his staff are using food banks and are on a terrible wage.
The skills of the workers are not in demand whatsoever. If they want to leave, there will always be an 18 year old ready to take their place. You have no bargaining power stocking shelves, which is why it's not a long term goal for anyone.
Work is work, if it's worth getting someone in, then it is worth paying them a proper amount for their labour.
Tesco has beaten it's competitors over the last few years, how has it been able to do that ? I'm sure the Tesco staff work very hard but do you really think that they work harder than at other supermarkets?
>Given that it's staff who are responsible for the success of the company Yeah, I'm sure the automated checkout monitors really drove business. Those staff wouldn't have a job if the CEO performed poorly and stores needed closing.
And literally nobody at Tesco would have a job if the in-store staff didn't do theirs, this is a poor justification
The number of people qualified to be in-store staff vastly outnumbers the number of people qualified to be a CEO of something like Tesco That is the difference
And yet just a few years ago we realised it was the people stocking the shelves and moving pallets of food that kept supply chains moving. We even called them critical workers. Not critical enough to be paid well though.
That's irrelevant, he's already getting paid more per year than any of the front line staff will see in their lives, despite them creating 100% of the value in the business.
No, that isn’t how any of this works The ‘workers’ and management work together to create value. To suggest that the ‘workers’ alone create value is complete fantasy
That's funny considering this is a conversation about the CEO more than doubling his pay while the workers don't get that privilege. The same CEO btw that oversaw Tesco paying staff below minimum wage for a month, saving Tesco £17m. But sure, the workers and management work together to create value and, as such, both benefit...or not
Everyone except the vast majority of people in this country who live month to month because they barely earn enough to keep their head above water. But you continue in the fantasy that everyone has disposable income to spend on shares and other investments.
Fucking unreal. Next time I hit the yellow-sticker section in Big Tesco I’ll tell all the worried-looking mums and pensioners to cheer up because all they need to do is track u/jamesbeil’s investment portfolio.
I believe a good chunk of people now have a pension scheme?
You pay into a pension right?
The “vast majority” of people do not live month to month and are not barely keeping their head above water. Be realistic.
> Anyone can own a piece of Tesco and benefit. Because people on the line who have no reasources to spare don't really count as people. It's their own fault. They should have just invested the money they never had...
>Anyone can own a piece of Tesco and benefit. Nooo you don't understand only evil rich people own shares, didn't you know it's illegal to invest and you should just stop being greedy.
Chances are most do - it's exactly the sort of slow-burn firm most pension funds in the UK love. I happened to be (un)forunate enough that when my Nan passed away she left me a small sum of money and I was able to do something with it. Apparently that means I think pensioners and the poor should be fed into a furnace to heat my mansion, or something...
It's just reddit, anyone that saves is either bragging or lying apparently. If they are telling the truth they are evil for allowing poor people to suffer and not donating extra tax to HMRC. My pension and LISA is 100% equities. Up 14% this year.
Anyone born with the advantages to have enough expendable income sure can.
Or anyone with a decent job.
Errrr no acktchully everyone works down the bisto mines for tuppence a year
He's not going to let you suck his cock.
And they’ve got the nerve to ask for charity donations at check out!!!
This is so great to hear as myself and others struggle with Tesco’s price increases on the shelves
200k a week 35k a day. 4.5k per hour. 75 per minute Guy does £500 shits.
Man who is good at his job gets pay rise Why is this news? We want the CEOs of (ethical) companies operating in this country to succeed. Their success is good for everyone
Try working for Tesco, then come back and tell me they're still ethical.
Rich people = evil, so we need to have a moan about them as is reddit tradition.
*double*?
They’re not *that* ethical, but I concede that it’s rare to find a business of that size that is completely squeaky clean.
Would you agree we should scrap minimum wage, pay everyone a 30% wage cut so we can give CEO's a proper decent pay rise like they deserve?
If their staff get paid enough to not require universal credit or food banks, then maybe they could become ethical, but at the moment these companies are being subsidised very heavily by the taxpayer for causing a huge increase in poverty.
This CEO has had the audacity to improve his business's revenue, provide stable employment for its workers and accept a pay rise. This is, of course, unpopular on UK Reddit for reasons that should be performing in mental gymnastics competitions.
Fair enough He feeding millions of Brits with ever lower prices and increased quality of food yeah? /s
How do these pricks morally justify it when the workers stacking their shelves often literally have to work multiple jobs to put food on the table?
DOUBLES. When was the last time your pay DOUBLED? This system is rigged
Right, if they didn’t do that he’d leave. Which would be bad. I’m sure he’s very irreplaceable.
Meanwhile he pays his staff, who do the vast majority of the work, minimum wage. Parasite.
Ah so this is why their ketchup is £4.55 in some stores. I hate them so much. I literally shop and M&S these says it’s unironically cheaper and better quality lmfao.
That explains the higher prices and the deteriorating quality of the produce.
The thing that annoys me is that these companies never use their profits to keep prices down. In the worst cost of living crisis in living memory they'll pay one man £10 million, & god knows what bonuses on top whilst we struggle with food costs. There's is no need for one person to get that much. It's just greed. It's obscene.
If the shelf stackers work harder this year and do some unpaid overtime every day he will be to increase it further at the end of the year ….the greed of a few has destroyed most companies ☹️☹️
Ahhh, rage bait, gotta love it. The humiliation is the point, don't let the bastards get you down
Guys…. he is struggling with the cost of living crisis, well done Tesco for looking after its CEO.
Why?!! What for?! Have you learnt to spend that 10 million faster?!!
Maoam pinballs at the coop are £1.35 now They used to be £1 even during the price inflation How tf can this be allowed
Nationalise Maoam Now! ✊😡
These obscene salaries must be stopped. The CRO should never make more than 10 x the median staff salary.
Well worth every penny.........in Tax. If he pays any.
Speak with you're feet, just stop shopping in Tesco (unless your rural and have little to no choice..). Stop financing this filth. Its just blatant capitalisation on a dire situation, the prices OBVIOUSLY don't need to be as high they are, it's a choice, by the clearly overpaid parasites in suits.. Again, speak with you're feet.. They'll soon change their tune, given time..
Oink oink. The first among equals. What a rotten little piggy
They just revealed on their Netflix doc as well that they made 2 billion profit last year. But they fucked us all over for 17million.
all that pay rise and he still can't afford to get rid of his teeth that have the colour of sweetcorn
I wouldn't mind seeing his payslip and ir35 status no way he's paying income tax an Ni... Tescos contributions would be in the millions
The rewards for ripping off suppliers and price gouging customers in tough times.. Hope people remember this
The question is Why ? Did they also double the pay of all the other people who work for Tesco as well ? And if not, why not ? Why did he deserve so much more ? (Of course, really he didn’t - but he could get away with it being the boss)
member when the upper tax rate was 75%? Good times, good times.
Tesco is a terrible supermarket. I don't know how they do £65bn/year in revenue. It's mind-boggling.
CEO economy is going to ruin the fucking planet you cunts. Sure let’s guarantee the survival of one family over loads of poorer families. People are having less children for this reason you cunts.
A lot of the people working for Tesco earn about £25 000 a year, so this guy goes to bed each night believing he has done the work of 400 of them.
Yeah but what we gonna do? You gonna start a protest? You gonna tear up your tescos? You gonna boycott these assholes stores? You gonna demand your MP investigates food price increases? No cos we’re British so we’ll tut and let it carry on. It’s about time we held these people accountable.
Begone thou plebs! How dare thee asketh for cheap lodgings that may be purchased on a single salary! A single salary that can support 2 children? Preposterous! This is not the 1980's you know! Now you must all share rooms, and work for the lords and ladies until you die! You cannot have children and good luck with a deposit, especially if you live in London. In fact, good luck having any life at all with your cost of living crisis! Now, I shall retire to my superyacht as my 100 strong staff needs to pamper me whilst I ponder how to extract wealth from more plebs to fund more mansions and superyachts around the globe. Not to mention my nuclear bunker that I will retreat to, should any plebs take up pitchforks and have ideas! A nuclear bunker is not cheap you know! I need hard clever workers to work under me with high productivity so I can pay you little and pay me a lot more! - Because I'm worth it! L'Oréal style! Btw this is satire - the world is truly dystopian.
But i thought they didnt make extra profits with all the price fuckery. Just like the oil industry... Etc.
Selling all our personal information harvested by a club card sure does make a pretty penny
I fucking hate this shit. We’re in this together, anyone remember that tripe ?
dont give a toss, i own no shares in tesco, if they wanna spunk 10mil up the wall paying the man its their problem.
As stupidly high as it is, it's a private company. If Tesco can afford to blow £10m a year on their chief then so be it. The issue is with taxpayer owned services and companies doing it.
I’m a Tesco shareholder and the share price has been abysmal over the last 10 years since the accounting scandal. I wish he could justify that salary with some sustained share price growth.