Exclusive:
Next chief executive Simon Wolfson was paid more than £4million over the last year as unions negotiated for more than £1 extra an hour the company were offering to warehouse workers
The Tory Peer who runs Next enjoyed a mammoth pay rise to £4.5million while offering some of his staff just £1 extra an hour.
Chief executive Simon Wolfson got a £2m increase after the firm posted profits of £918m. But workers at the firm’s warehouses – some said to be on £10.80 an hour – were told they could only have a £1-an-hour rise. Unions rejected that and staff are on the living wage, which rose last month to £11.44 an hour – less than the amount offered. Meanwhile, Next – which is plugged by stars including Rochelle Humes, Myleene Klass and Gary Lineker – pays a fortune to its chief.
Brexiteer Lord Wolfson’s 2023-4 base salary was £908,000, with benefits of £36,000 and a £136,000 pension. His annual bonus was £1.362m, plus a so-called long-term incentive plan worth £2.072m and £6,000 in a share-save scheme – all adding up to more than £4.5m.
Lord Wolfson of Aspley Guise has donated hundreds of thousands of pounds to the Conservatives and has been a life peer since 2010. He sparked controversy in 2015 when he claimed the firm’s £6.70 hourly pay was “enough to live on”. USDAW national officer Mark Todd said: “We are in ongoing pay negotiations with Next. The company’s initial offer was rejected by members and we have continued in positive discussions with management, seeking to secure an improved offer that can be put to another ballot.
“Meanwhile staff have had their pay lifted to minimum wage levels in compliance with the law.” Next did not comment.
