The stock market value of Sports Direct has fallen by over £500m as its shares fell by 13% after workers were shown to be receiving effective hourly rates of pay below the minimum wage. On Thursday, the Guardian also lay bare some of the pricing policies employed by the retailer and the crisis of corporate governance at the firm, which has been widely criticised for conditions in its warehouse where workers are warned they will be sacked if they receive six black marks – or “strikes” – over a six-month period. A spokesman for the retailer said: “While we are disappointed that our employees have been paid less than their colleagues at other retailers, this is a matter which will ultimately be resolved through collective bargaining.
The stock market value of Sports Direct has fallen by over £500m as its shares fell by 13% after workers were shown to be receiving effective hourly rates of pay below the minimum wage. A spokesman for the retailer said: “While we are disappointed that our employees have been paid less than their colleagues at other retailers, this is a matter which will ultimately be resolved through collective bargaining.