John Lewis in bonus blow

WORKERS at the John Lewis Partnership won't get a bonus for the third year running - despite profits tripling.
The employee-owned group argued that the cash was needed for £600million of investment in the business, and also £114million for staff pay rises.
Chairman Jason Tarry refused to say to his 69,000 staff - known as partners - when the bonus would be reinstated, only adding: “I am determined to pay a bonus as soon as we possibly can.”
Yet the John Lewis department store and Waitrose group said that underlying profits leapt from £42million to £126million last year. The jump was helped by more than £250million of cost-cutting during the year, towards a targeted £900million by 2026.
Sales rose three per cent to £12.8billion, with Waitrose ...

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Daily Record (Digital) - 1 Issue, March 14, 2025

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