The world renowned retailer said the decision was ‘difficult but necessary’ to weather the storm of the pandemic
John Lewis is set to confirm the 1,500 staff at risk of redundancy this week following a review of its head office structure.
The employee-owned business first set out plans to axe the job roles at its head offices in London’s Victoria Street and Bracknell back in November.
Yesterday, a spokesperson for the partnership said the decision was “difficult but necessary” as the group attempts to save up to £300m in annual savings by 2022.
The 1,500 job cuts will save around £50m.
Meanwhile, exiting staff are expected to leave the business by April 2021.
“Wherever possible, we will seek to find new roles in the Partnership for Partners whose roles become redundant,” the spokesperson added.
“For Partners who are unable to find new roles, we will provide them with a market leading redundancy support and funds for retraining.
“This includes up to £3,000 towards a recognised qualification or course for up to two years for any Partner with two years’ service or more.”
John Lewis stores have been forced to close once again as part of the England-wide lockdown, causing more disruption to the retailer’s profits.
Click & Collect services were suspended earlier this month as the world renowned retailer encouraged consumers to stay at home as the UK continues to grapple with the outbreak.