Birmingham news John Lewis not paying staff bonus next year due to £635m loss MetiNews.Com
MetiNews.Com - The department store has been closing other Waitrose stores
Breaking News ! One of the UK's biggest retail stores has said it won't be paying out staff bonuses next year due to a massive loss. John Lewis has confirmed that it will not be able to pay employees a little extra after it suffered a massive £635m loss, meaning the bonus will be cut in 2021. This comes after the company decided to close its flagship store in Birmingham's Grand Central. The store also confirmed four Waitrose store closure.
(Image: Graham Young / BirminghamLive)
The department store chain is looking to overhaul its 'Never Unknowingly Undersold' pledge, amid eight John Lewis store closures. Outlets in Croydon, Swindon, Tamworth, Newbury, Heathrow Terminal two, London St Pancras station, Birmingham Bullring and Watford will be axed after the business warned they are "commercially viable". The decision marks the first time in a century that workers at the employee-owned business will not receive a pay-out, which was last axed after in 1948 in the aftermath of the Second World War and remained at zero until 1953.
Source = MetiNews.Com