Mar 5, 2020

John Lewis cuts staff bonuses to lowest in almost 70 years

John Lewis has cut staff bonuses to the lowest level in almost 70 years after seeing a sharp fall in annual profits. The retailer, which also owns supermarket chain Waitrose, will set bonuses at 2% this year - the lowest since 1953 when it paid no bonus. Its profits dived by 23% last year to £123m, as it continued to struggle with consumer spending slowdown. The group is cutting management jobs but said it planned to take on 2,400 staff elsewhere.

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