Workers at BT who invested in a share scheme when it was introduced five years ago are likely to share a £1.3bn windfall in the summer.
Some workers will receive “life-changing” sums, with the average profit more than £46,000.
When employees were offered the scheme, shares averaged 66p. Now they’re worth 401p each, meaning thousands of staff, including call centre workers and engineers, will receive big payouts, providing they stay the same price until the summer when the shares vest.
Around 24,000 workers, a third of BT employees, invested in the scheme, with 60% of them at what the company describes as team-level jobs.
Those who invested £225 a month for five years – the maximum allowed – will receive shares worth £82,000, receiving a profit of £68,500.
“Secretarial staff, drivers and engineers paying off their mortgages – people write to me and say it’s changed their lives,” former CEO Ian Livingston told the Sunday Times.