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John Lewis axes third of top jobs in restructuring John Lewis axes third of top jobs in restructuring
(32 minutes later)
John Lewis will merge the two halves of its business under a single management structure from next year, resulting in the loss of a third of the top roles. A third of senior management jobs will be axed at the John Lewis Partnership as the company streamlines its structure from February next year.
From February, the department stores and the Waitrose grocery chain will be managed by one top team. The partnership is merging the managements of its High Street department stores and Waitrose grocery chain into a single team.
Around 75 of its current 225 senior management head office roles will go the firm said, saving around £100m. John Lewis has been struggling in a tough retail climate.
Eliminating separate divisions would allow "more innovation, faster decision making and bolder steps," it said. The restructuring aims to save £100m, through the loss of about 75 of its current 225 senior head office roles.
"These changes will be difficult for some of our Partners and we will implement as carefully and sensitively as we can," said chairman Sir Charlie Mayfield.
John Lewis employees, including both management and shop floor staff, are known as "partners" due to the company's profit-sharing model.
There would be "little or no disruption" for customers, he said, but the restructuring would create a more unified leadership team and cost structure.
Last month, the retailer reported a half-year loss for the first time in its history amidst a difficult UK retail environment.
"The lesson of the last two years is that we need more innovation, faster decision-making and bolder steps to align our operating model with our strategy," the chairman said.
The company said of the customers that accounted for its greatest sales, eight out of 10 of them shopped at both its department stores and at Waitrose.