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John Lewis and Waitrose bonuses cut for third year running to 10% | John Lewis and Waitrose bonuses cut for third year running to 10% |
(about 2 hours later) | |
More than 90,000 John Lewis and Waitrose staff have seen their bonuses cut for the third year running to 10 per cent of their annual salary. | More than 90,000 John Lewis and Waitrose staff have seen their bonuses cut for the third year running to 10 per cent of their annual salary. |
The staff bonus fell to 11 per cent in 2015 from 15 per cent in 2014 and 17 per cent in 2013. | The staff bonus fell to 11 per cent in 2015 from 15 per cent in 2014 and 17 per cent in 2013. |
The partnership said annual profits before tax were up 24 per cent to £435 million. | The partnership said annual profits before tax were up 24 per cent to £435 million. |
Higher pension charges and lower property profits means that pre-tax profits before exceptional items fell to £305.5 million, from £343 million last year. | Higher pension charges and lower property profits means that pre-tax profits before exceptional items fell to £305.5 million, from £343 million last year. |
Waitrose, which is owned by the same partnership, said that operating profit for 2015 was £232.6 million, down 2 per cent on last year. | |
Staff celebrated the news of their bonus despite it coming in smaller than in previous years. | Staff celebrated the news of their bonus despite it coming in smaller than in previous years. |
That's because at 10 per cent, John Lewis still offers one of the most generous bonuses among employers, shy of the amount paid to bankers, much much higher than the average 6 per cent bonus that UK workers get on average. | That's because at 10 per cent, John Lewis still offers one of the most generous bonuses among employers, shy of the amount paid to bankers, much much higher than the average 6 per cent bonus that UK workers get on average. |
That adds up to something to celebrate, despite the pay cut. | That adds up to something to celebrate, despite the pay cut. |
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