It's going to be a very merry Christmas for Ikea employees this year - after the Swedish furniture giant revealed plans to pay all staff a loyalty bonus - of £1,200.

The company will put 14,700 kronor (£1,200) into the pension pots of all staff who have worked for the company for five years or more, through a generous scheme called 'Thanks!'.

All staff will receive the same amount, irrespective of job title or current salary. Part-time will be covered too - and will receive bonuses that match up with the hours they have worked.

"We want to be an amazing place to work, where people are happy, thrive and want to stay," explained Ikea's human relations manager Karin Bergman.

"We know that our colleagues primarily want to work for us because we are a values-based company with a focus on development."

The money comes from a £900 million pot to distribute to staff worldwide - including its 20 UK stores, and around Europe, including in Switzerland, Denmark and Spain branches.

(Source: www.mirror.co.uk  Author: Emma Munbodh)