British retailer slashes bonuses and warns of closures

British retailer slashes bonuses and warns of closures

British retailer John Lewis has reported a plunge in profits, forcing it to cut staff bonuses to their lowest level in almost 70 years. The retailer added that it has launched a review of the business which would involve ’right sizing’ its stores across brands. This year, staff bonuses have been set at 2%, the lowest since 1953.

Chris
Chris
Top in Business
Get the App