Toy market news

John Lewis reveals plans to cut 1,000 jobs amid cost saving and management restructure

The John Lewis Partnership is planning to cut 1,000 jobs across its John Lewis and Waitrose stores in a move to simplify its management structures and cut costs.

The business’s owners have said they will aim to find new jobs for those losing their store management roles and would aim to reduce compulsory job cuts by offering voluntary redundancy to those affected.

The move, it has been reported, is a bid by John Lewis Partnership to simplify its management structures at Waitrose and John Lewis stores ‘by reducing the number of layers between the most senior leaders and non-management staff.’

The plan will also act to reduce costs by £300 million a year by 2022. The firm initiated cost saving plans after reporting its first full-year loss in March. This year also marked the first time in 67 years that annual staff bonus was not handed out.

The Retail Gazette reports that the proposals would result in around 1000 roles being made redundant across John Lewis and Waitrose.