UK’s First Retailer to Share Pay Data

  • Tesco reveals gender pay gap statistics
  • Median gender pay gap at 8.7%
  • UK average median pay gap is 18.4%
  • Career and lifestyle choices contribute to the gap
  • More male colleagues work night shifts, bank holidays, Sundays
  • Tesco CEO Matt Davies: ‘We want to close the gap altogether’
  • Exceeded target of 25% women on board by end of 2017

Supermarket giant Tesco has become the first UK retailer to reveal its gender pay gap statistics, with a median figure of 8.7%. This is below the national average of 18.4%, according to the Office for National Statistics (ONS). The company attributes the difference primarily to career and lifestyle choices, as more male employees work shifts that offer premium pay, such as night shifts, bank holidays, and Sundays. Tesco UK CEO Matt Davies stated, ‘While we’re pleased our gender pay gap of 8.7% is significantly below the UK median, we want to close the gap altogether.’ He added, ‘We believe long-term, sustainable change will take time but it’s essential for our business and its future.’

Factuality Level: 8
Factuality Justification: The article provides accurate information about Tesco’s gender pay gap statistics, compares it to the UK average, quotes a relevant source (ONS), and includes a statement from the CEO addressing the issue. It does not contain digressions, irrelevant details, sensationalism, redundancy, or personal opinions masquerading as facts. However, it could provide more context on how Tesco plans to close the gap.
Noise Level: 6
Noise Justification: The article provides relevant information about Tesco’s gender pay gap and its efforts to address the issue, but it could benefit from more in-depth analysis of the factors contributing to the gap and potential solutions beyond the CEO’s statement.
Financial Relevance: Yes
Financial Markets Impacted: Tesco’s stock price and investment decisions may be impacted by their gender pay gap and efforts to close it.
Financial Rating Justification: The article discusses Tesco, a major UK supermarket company, revealing its gender pay gap statistics and the CEO’s commitment to addressing the issue. This can potentially affect the company’s reputation and financial performance, which in turn could impact investors and stock price.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event in the text, but it discusses a gender pay gap issue in Tesco which is a significant concern for the company and society.

Reported publicly: www.retailsector.co.uk