Toy market news

John Lewis Partnership confirms loss of 1500 head office jobs

By toyworldmag.co.uk

The parent company of John Lewis and Waitrose is expected to confirm the job cuts imminently after a consultation process with staff.

John Lewis Partnership is expected to confirm the axing of 1500 office based roles as soon as this week, as part of efforts to restructure and save costs. The retailer said the “difficult but necessary” changes will support the company in delivering its five-year Partnership Plan.

The process was first announced in early November, when the partnership revealed the latest phase in its five-year turnaround scheme. Individual workers are said to have been contacted this week to advise them if they are risk of redundancy, as the retailer seeks to save £50m as part of a wider £300m cost-saving target.

The job cuts will affect staff at head office sites in Victoria, London and Bracknell, Berkshire. The company said it will seek to redeploy workers affected by the cuts and will provide redundancy support and funding for retraining for staff unable to be offered new roles within the group.

The cuts come on top of plans to close eight John Lewis stores, with the loss of 1300 jobs, and the further closure of four Waitrose stores, affecting 124 staff.

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