Advertisement

John Lewis plans to cut 325 jobs

Britain's biggest department store John Lewis could axe 325 store manager positions, despite delivering robust sales.

Britain's biggest department store John Lewis could axe 325 store manager positions, despite delivering robust sales.

The proposal is part of the chain's long-term growth strategy, which includes streamlining its management structures across the group.

The company said it has started consultation on the changes which affect managers at all of its department stores.

Advertisement - Article continues below

There are four levels of management at stores; a managing director, a steering group, department managers and section managers.

The cuts will hit the third level of management and will create some new jobs at the steering group level.

If John Lewis decides to go ahead in cutting jobs, it is believed it would mark the most significant cull since 2009 when the company reviewed its overall structure.

John Lewis has traditionally held a model image as it is owned by its employees who share in the group's profits.

Last month the company posted record high store sales for the holiday period, outperforming high street rivals.

The company made £684.8m from sales for the five weeks to December 29th, up 14.8% from the year before.

RD

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?
UK Economy

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?

John Stepek runs his eye over the chancellor's £30bn stimulus package and asks if it's enough to get the economy back on its feet after months of lock…
9 Jul 2020
A first-half home run for investment trusts
Sponsored

A first-half home run for investment trusts

The investment trust sector has seen some extraordinary performance in the first half of this year. Max King looks at what's behind it, and asks: is i…
7 Jul 2020