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John Lewis Partnership to halve size of London headquarters

By Nagasunder in UK Business News, posted May 3, 2023

John Lewis is planning to cut more than 50 percent of its central London headquarters as employees have embraced remote working.

The British retail giant has reportedly hired property experts Tuckerman to help it find new offices in the city.

Sources say the partnership is looking for space less than half the size of its current 220,000 sq ft headquarters in London Victoria.

The downsizing move is not driven by cost savings, but rather by the reduced need for office space as staff continue to work from home.

According to reports, the company is currently only using half of its existing office space, with some floors being closed off entirely.

The decision to downsize is a reflection of the shift towards flexible working practices, which have become increasingly popular since the outbreak of the COVID-19 pandemic.

In a statement, John Lewis Partnership said: “We announced last year that we’re moving to a new London office that better suits our needs when our current lease ends next year. Like many businesses, we don’t need as much space now we have a blended approach to working in offices, home and out in the business. As our requirements for office space reduce, we also expect to reduce our occupancy costs.”

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The move is part of a wider trend towards flexible working practices, which have become increasingly popular in recent years.

In addition to reducing overheads and increasing productivity, remote working can also improve work-life balance and reduce the environmental impact of commuting.

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