March 9, 2017 / 10:32 AM / 10 months ago

Tesco to reimburse staff after payroll error

LONDON (Reuters) - Tesco (TSCO.L), Britain’s biggest retailer, is to reimburse 140,000 current and former staff members up to 40 pounds ($48.6) each after discovering an error in its payroll systems, it said on Thursday.

The supermarket group said it found the error during an internal review conducted as part of the implementation of a new payroll system. The total reimbursement costs are expected to be 9.7 million pounds.

    “The review...found the voluntary contributions made by some colleagues to benefits such as pensions, childcare vouchers and cycle to work schemes, led to errors that resulted in their pay after salary sacrifice not reaching National Living Wage levels,” Tesco said.

    The firm said it has apologised to its staff and informed HM Revenue and Customs.

    ($1 = 0.8228 pounds)

    Reporting by James Davey; Editing by Alistair Smout

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