New analysis of top companies has shown that Mike Ashley’s Sports Direct is ranked 98 out of 100 when it comes to making pension contributions for staff.
The FTSE 100 top companies were looked at and while on average businesses contributed £2,920 per employee to staff pension pots, Ashley’s Sports Direct put in only £82 a year.
The research by Banc De Binary found that only two other companies paid out less on pensions on average, these were G4S and Antonfagasta. However, those who commissioned the report pointed out that these two companies employed large number s in developing nations, where pension rights aren’t as common….a bit like at Sports Direct!
Mike Ashley has managed this ranking of 98 out of 100 because he employs a massive proportion of staff on zero hours contracts, which meant that Sports Direct weren’t obliged to automatically enrol those many thousands of staff on the recently implemented workplace pension schemes.
Newcastle fans and now those at Rangers think they have it bad being under the control of Mike Ashley, but just imagine what it must be like for most of the tens of thousands who work for him.
Actually, imagine this group of people, those who support Newcastle or Rangers and also work for Mike Ashley on zero hours contracts. I bet life for them is just one big laugh.