This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.independent.co.uk/news/business/news/john-lewis-and-waitrose-bonuses-cut-for-third-year-running-to-10-a6922896.html

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
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 opering profit for 2015 was £232.6 million, down 2 per cent on 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.