Phone staff in £3.5m bonus shock

chris

A businessman surprised his former employees at a farewell party by handing out £3.5m in bonuses.

John Caudwell, who recently sold his Phones4U empire netting an estimated £1bn, handed out gold envelopes with cheques inside to 500 loyal workers.

The bonuses were worth £1,000 for every year worked at the mobile phone firm, with some staff members receiving five-figure sums.

They knew nothing of the bonuses until the party in Staffordshire on Saturday.

The farewell bash, at Mr Caudwell's former headquarters in Stoke-on-Trent, included a champagne dinner and entertainment from Will Young.

'Loyal employees'

It was to mark the recent sale of The Caudwell Group, which employed 8,500 people, to two private equity groups for £1.46bn.

Mr Caudwell, who set up the group along with his brother Brian in 1987, is quoted as saying at the party: "I face the final curtain with some sadness.

"I really wanted to recognise and reward my loyal employees by showing you a token of my appreciation."

Mr Caudwell is Britain's 29th wealthiest person, according to this year's Sunday Times Rich List.

Source
bbc.co.uk

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Rob

A very nice gesture Chris, shame he had to spoil it by hiring Will Young.

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If anyone wishes to copy the Madeleine appeal please feel free to do so.

BGonaSTICK

LOL - no such thing as a free lunch huh?

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gameboy

Great to see the man at the top rewarding those who helped make the money for him.

All too often the people at the top get better salaries, bonuses, share options, golden handshakes, etc (even if the make a complete mess of it!).

The people that make the business a success get little or no share.

Well done let's hope a lot more bosses follow suit.

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Only he who does nothing, does nothing wrong.