ASDA - comment

Cancelling store manager bonuses may hurt morale at ASDA, but Allan Leighton needs to respond to the poor performance in H2 2024. Our view on the credit is unchanged; the value of the business covers the debt with an equity cushion. The amount saved isn’t public, but we expect it to be £100m. The savings will not turn around ASDA’s market share issues but represent an easy “win” for Leighton. There will be some store managers who will depart, but we expect that impact to be marginal.  

https://www.grocerygazette.co.uk/2025/03/03/asda-axes-bonus-10000-staff/