Boohoo has been forced to rethink its bonus plan after a "unique and unprecedented set of macro-economic and market headwinds experienced over the last three years".
The Manchester-headquartered group said there is now "little or no value" in the existing Growth Share Plan or the current Management Incentive Plan after its market capitalisation "significantly decreased".
As a result, it added they "no longer operate as an effective incentive mechanism for this critical population who are responsible for driving business performance and delivering boohoo's strategic objectives".
