Home » Business News • UK Employment news » John Lewis to cut up to 11,000 jobs over five years
https://www.whatjobs.com/news/united-kingdom/uk-employment-news/john-lewis-to-cut-up-to-11000-jobs-over-five-years
John Lewis has revealed plans to shed 10 percent of its headcount over the next five years, affecting up to 11,000 jobs.
The retailer plans to downsize its workforce through redundancies and not filling vacant positions.
However, although it did not specify numbers to the BBC.
The cuts are part of a strategy to bring the business back to profitability.
John Lewis employs around 76,000 people across its supermarkets, department stores, and head office.
Its employees own it through a trust, with workers referred to as Partners.
A spokesperson said it "has a plan to return to profit, which involves investing heavily to enhance our customer offer, technology, stores and becoming more efficient".
They added: "This is working and performance is improving, but as we have already announced, that sadly means reducing the number of Partners we need in our business.
"It would be inappropriate to discuss details and our Partners will be the first to know about any changes."
John Lewis has faced financial difficulties in recent years.
In March 2023, it reported its second-ever full-year loss of £234 million.
As a result, the firm axed staff bonuses, closed 16 department stores and several supermarkets, and terminated thousands.
The company blamed its financial woes on high inflation and rising labor, energy, and freight costs.
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Recent reports suggest John Lewis has informed staff about plans to reduce its redundancy package starting in February.
The retailer would cut the pay per year from two weeks to one.
This has reportedly sparked frustration among workers on the group's internal messaging board.
Some called for an emergency meeting of the partnership council, a body that represents employees democratically.
There is also reported anger over senior executives who left the company receiving more generous redundancy terms.
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