Staff missed out on a bonus for only the second time since 1953.
The John Lewis Partnership has cautioned over potential job cuts as it told staff it will not hand out a bonus for only the second time since 1953 after a hefty loss.
It came as the group, which runs the department store chain and the Waitrose supermarket arm, recorded a £78 million loss before exceptional items for the year to January 28. “Inflation has had a big impact on the partnership and sent our costs soaring – up almost £180 million on last year. Waitrose sales declined by 3% to £7.3 billion, while John Lewis recorded 0.2% growth to £4.94 billion.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
John Lewis to axe annual bonus for staff for the second time in 70 yearsJOHN 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 195…
Read more »
John Lewis staff to miss out on bonus for only the second time in 70 yearsStaff at John Lewis will miss out on bonuses amid a £78 million loss in the last year. This is only the second time in the retail group’s history since 1953 that workers will not be awarded a financial boost.
Read more »
John Lewis results: £234m loss means no staff bonus and looming jobs lossesStaff at Waitrose and John Lewis, known as partners, will not receive a bonus due to the company's loss for the financial year, its full-year results said.
Read more »
John Lewis staff miss out on bonus as retailer slides to £78m lossThe John Lewis Partnership has said it will not hand staff a bonus for only the second time since 1953 after the retail group fell to a hefty loss.
Read more »
John Lewis scraps staff bonus after annual loss\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
John Lewis axes staff bonus and plans to cut jobsThe department store operator and Waitrose owner says profits were hit in 'a very tough year'.
Read more »