Oct 1, 2019
John Lewis to cut a third of managers in £100m cost-cutting push
John Lewis Partnership is to shed about a third of management roles in a shake-up that will bring together its department stores and supermarkets in an attempt to cut £100m a year from its costs. Paula Nickolds, managing director of the John Lewis stores, will become executive director of brand, while Waitrose managing director Rob Collins will leave early next year. The overhaul comes shortly after John Lewis revealed its first half-year loss, while staff bonuses have shrunk to levels not seen since the 1950s. The new structure reflects the significant overlap between the two brands' customers: 80 per cent of those who spend the most at the group shop at both Waitrose and John Lewis. The separate Waitrose and John Lewis boards will be replaced by a single eight-person executive team covering areas such as strategy, trading and operations.
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