John Lewis announced last week that it was considering bringing an end to its 100% employee ownership. The move comes at a time of increased economic strain due to the cost-of-living crisis and marked shifts in the retail sector.
Sharon White, the chair at John Lewis, says this move would allow the retail giant to raise between £1bn and £2bn of new investment. The retail giant says plans are to sell a minority stake to an investor who embodies similar values, while employees will maintain having a majority of the company’s ownership.
Continue reading for FREE!
Sign up for a myGrapevine account to get:
- Unlimited access to News content
- The latest Features, Columns & Opinions
- A full range of specialist HR newsletters to choose from