John Lewis | Benefits are being slashed in the 'perk-cession' - but do employees even care?

It’s been a tough few years for the iconic retail chain John Lewis & Partners, which also owns Waitrose supermarkets.

The embattled group has been trying to claw its way back to profitability following a shift in buying habits, a pandemic, staffing and stock shortage and, of course, an ongoing rocky financial market.

Following the confirmation of a £234million pre-tax loss, Chair of the company, Dame Sharon White, confirmed that it was tripling its target of making savings from £300million to £900million by January of 2026. Part of this slashing of budget, includes the axing of staff bonuses.

This marks just the second time that bonuses will not be handed to staff since John Lewis started the scheme back in 1953, shedding light on the dire conundrum that John Lewis finds itself in.