Carphone Warehouse managers to share £22m windfall from Best Buy venture

Up to 300 senior staff members will receive an average payout of £110,000
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Carphone Warehouse is rewarding its managers after a joint venture between the mobile phone chain and Best Buy.

Between 200 and 300 senior managers running Carphone Warehouse stores will receive an average payout of around £110,000.

The firm set up the scheme in 2009 as a reward for staff involved in the joint venture, which saw Best Buy take a 50 per cent share in Carphone’s UK and European operations.

The bonus plan was due to run until 2015 but it will now pay out two years head of schedule.

Best Buy UK ended in 2011 with the closure of 11 British stores and the loss of 1,100 jobs.

In the US, however, the partners succeeded in opening 190 standalone mobile phone specialist outlets and franchises in 1,000 stores.

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