Thursday, March 16, 2023
HomeTrendingJohn Lewis staff to miss out on bonus for only the second...

John Lewis staff to miss out on bonus for only the second time in 70 years

The retailer recorded a £78 million loss in the last year (Picture: Reuters)

Staff at John Lewis will miss out on their usual annual bonuses after the UK retail group recorded a £78 million loss in the last year.

This is only the second time in its long history since 1953 that employees will not be awarded a financial boost.

The group, which runs the department store chain and Waitrose supermarkets, is currently facing rising costs and unprecedented losses.

John Lewis recorded the multi-million pound loss before exceptional items for the year to January 28.

Shoppers walk past the John Lewis department store on Oxford Street in London (Picture: Reuters)

It represented a slump from a £181 million profit in the previous year, with bosses blaming ‘inflationary pressures’.

In a letter to staff, chairwoman Dame Sharon White said: ‘You’ve been exceptional in what has been another very tough year.

‘Two years of pandemic and now a cost-of-living crisis.

‘Inflation has had a big impact on the partnership and sent our costs soaring – up almost £180 million on last year.

‘All in all, this has made for a tough set of results. We made a loss of £78 million.

‘I am sorry that the loss means we won’t be able to share a bonus this year or do as much as we would like on pay.

‘We will continue to help with the cost of living in other ways – the financial assistance fund will stay at £800,000 (a doubling) and there is support for travel, childcare and living costs.’

Get in touch with our news team by emailing us at

For more stories like this, check our news page.

- Advertisment -

Most Popular

Recent Comments