John Lewis Partnership, the owner of John Lewis and Waitrose, is reportedly considering cutting up to 11,000 staff jobs over the next five years, according to local media reports.
The cuts, affecting at least 10% of the staff-owned business’s workforce, are expected across the group’s head office, supermarkets, and department stores. The reduction in roles is anticipated to occur gradually over the years without replacement.
The move is part of John Lewis Partnership’s plan to return to profit by investing heavily in enhancing customer offerings, technology, and stores while improving efficiency.
The company acknowledged the need to reduce the number of partners in the business, as previously announced. Last March, the British retailer warned of staff cuts and the elimination of bonuses due to a decline in customer spending, leading to an increase in its annual loss.
The 159-year-old group has faced challenges amid tough competition and the costs associated with developing its online offering.
The decision to cut jobs comes as part of the company’s efforts to navigate these challenges and improve overall performance. John Lewis Chair Sharon White, who will step down in 2025, mentioned in September last year that the turnaround process would take longer than initially planned and incur additional costs due to inflationary pressures.
