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The millionaire boss caught on camera singing “We’re in the money” has halved Argos staff’s Christmas bonus to just £5.

Workers used to get £10 towards a seasonal bash before a takeover by Sainsbury’s – headed by Mike Coupe.

He was mocked after singing the 42nd Street ditty before an interview about a possible Sainsbury’s-Argos merger. Argos’ 16,000 sales staff earn a typical £11,931 a year.

That contrasts with the £3.9million package Mr Coupe pocketed after his bonus soared to £593,000.

Staff were told their bonus was cut to match Sainsbury’s, which bought Argos for £1.4billion in 2016.

(Image: LIVERPOOL ECHO)

One insider said: “Argos cut the bonus to just a fiver in the same year the CEO takes £3.9million.

It brings it in line with Sainsbury’s, rather than raise Sainsbury’s to £10. Great company.”

The supermarket giant has already faced controversy over plans to cut paid breaks, special rates for Sundays and annual bonuses for its 130,000 shopworkers.

Dave Gill, of union Usdaw, said: “Given the com-pany states they want ‘to create a fantastic team spirit’ with parties, this cut in budget could be seen as mean spirited.

"We have asked them to reconsider.”

Argos made no comment.