John Lewis reveals HUGE blow for staff
JOHN LEWIS has said it will not hand staff a bonus for only the second time in 70 years.
The bonus has been paid out by the John Lewis Partnership, which includes John Lewis and Waitrose, since 1953.But the John Lewis group, which runs the department store chain and Waitrose supermarkets, recorded a £78 million loss for the year to January 28. It represented a slump from a £181 million profit in the previous year, with John Lewis blaming “inflationary pressures”.
In a letter to staff, John Lewis Partnership chairwoman Dame Sharon White said inflation had sent costs up almost £180million on last year.“I am sorry that the loss means we won’t be able to share a bonus this year or do as much as we would like on pay. “We’ll continue to help with the cost of living in other ways – the financial assistance fund will stay at £800,000 and there is support for travel, childcare and living costs.”when the group revealed that annual partnership profits were expected be to "substantially lower" than the previous year.Most read in Money
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