UK retail bellwether slashes bonus as outlook toughens | Fin24
 
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UK retail bellwether slashes bonus as outlook toughens

Mar 10 2017 17:32
Bloomberg: Paul Jarvis

London - Britain’s retailers face a tough year and workers at John Lewis department stores and Waitrose supermarkets are bearing the brunt.

The 90 000 employees of John Lewis Partnership have had their annual bonus reduced for a fourth year running, getting just 6% of salary compared with 17% in 2013.

The retailer sees an "increasingly uncertain market this year" as Brexit-induced inflation and a rise in online competitors put pressure on earnings.

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