Retail slump | John Lewis consider cutting staff bonuses for first time since 1950s

John Lewis is to consider suspending its staff bonus as it grapples with the impact of its worst Christmas trading since the 2008 financial crisis – The Guardian reports.

The employee-owned department store released a statement saying it would “need to consider carefully … whether payment of a bonus is prudent in the light of business and economic prospects at that time”.

Patrick Lewis, Finance Director of the John Lewis Partnership, said the group could afford to pay a modest bonus but would wait until March to on how much this would be.

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Lewis is reported in the Guardian as saying “unusual economic circumstances” and the current volatility around Brexit spurred the decision.