John Lewis ‘considers axing 11,000 jobs’ in move that would come as huge blow to 10% of its entire workforce
THE owner of John Lewis and Waitrose is reportedly considering cutting up to 11,000 staff jobs in the next five years.
Sources said at least 10 per cent of John Lewis Partnership's 76,000-strong workforce could go across the group’s head office, supermarkets and department stores.
Department heads are working on plans and the number of roles in the business is expected to be gradually reduced over several years via redundancies and not replacing staff who leave, reports the Guardian.
Another source said this figure had been briefed to select staff by some managers as the company battles to bounce back from a £230m full-year loss.
John Lewis warned about potential job cuts in March last year as part of a plan to reduce costs and use technology to improve efficiency.
The group has already cut thousands of jobs partly through store closures, including 16 department stores and several supermarkets, over the past few years.
The announcement came shortly after several senior executives had left on the more generous deal.
JLP told staff it was making the change as the current package was “higher than typical market practice and comes at a very high cost”.
It said it needed to “free up cash” with a “more affordable” policy.
The 159-year-old retail group has been struggling in recent years amid tough competition and the costs of developing its online offering.
John Lewis have been contacted for comment by The Sun.