Argos staff have had their Christmas bonus reduced to just £5 by their new millionaire boss caught on camera singing “We’re in the money”.
Sainsbury's supremo Mike Coupe was mocked after singing the 42nd Street musical ditty before an interview about a possible merger with Argos.
Argos’ 16,000 sales staff earn a typical £11,931 a year and used to get £10 towards a seasonal bash before a takeover by Sainsbury’s.
That contrasts with the £3.9million package Mr Coupe pocketed after his bonus soared to £593,000.
Staff were told their bonus was cut to match Sainsbury’s, which bought Argos for £1.4billion in 2016, reports the Mirror .
One insider said: “Argos cut the bonus to just a fiver in the same year the CEO takes £3.9m.
"It brings it in line with Sainsbury’s, rather than raise Sainsbury’s to £10. Great company.”
The supermarket giant has already faced controversy over plans to cut paid breaks, special rates for Sundays and annual bonuses for its 130,000 shopworkers.
Dave Gill, of union Usdaw, said: “Given the company states they want ‘to create a fantastic team spirit’ with parties, this cut in budget could be seen as mean spirited.
"We have asked them to reconsider.”
Argos made no comment.
