John Lewis, Waitrose Owner to Cut 1000 Jobs

The John Lewis Partnership (JLP), owner of John Lewis and Waitrose, will cut 1000 jobs in stores in a cost-saving measure, reports The Drum. JLP reportedly will assist those losing their store management positions in finding new jobs.

By simplifying its store management structure, the retailer expects to save about $415 million. JLP moved to reduce cost after reporting its first full-year loss this spring. Annual staff bonuses were also discontinued.

The cost-cutting move is not the first in recent history. In November 2020, JLP cut 1500 head office jobs and closed 16 John Lewis stores, causing a loss of more than 2500 jobs.