John Lewis and Waitrose staff bonus cut to 10pc
09:45 10 March 2016
More than 90,000 John Lewis and Waitrose staff will see their staff bonuses cut to 10pc of their annual salary.
The payout was cut for the third year in a row after staff were handed 11pc last year, 15pc the year before and 17pc in 2013.
John Lewis Partnership, which is owned by the employees of the two retail chains, reported pre-tax profits before exceptional items of £305.5m for the 52 weeks to the end of January 30 2016, down from £342.7m last year.
The group said the partnership bonus of £145m was equivalent to five weeks’ pay and applied to 91,500 staff.