Home Business News John Lewis Partnership axes staff bonuses

John Lewis Partnership axes staff bonuses

by LLB Reporter
17th Sep 20 11:39 am

John Lewis has axed their staff bonuses for the first time since 1953 due to the pandemic and store closures.

Dame Sharon White, chairman of the John Lewis Partnership said on Thursday that their partners have been told which “will comes as a blow.”

In the six months to 25 July pre-tax profits plunged to £635m in losses, after a £470m write down in their stores.

In the half year sales rose by 1.1% to £5.56bn, and the retailer saw higher sales of “less profitable lines such as laptops and loo rolls.”

Dame Sharon said, “The pandemic has brought forward changes in consumer shopping habits which might have taken five years into five months.

“Both brands entered the crisis with strong and established online businesses and in the case of Waitrose, plans for expansion well under way in preparation for the end of the relationship with Ocado.

“Our digital businesses have been key to underpinning our first-half performance.”

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