John Lewis 2018 drop in staff bonus announced
PUBLISHED: 10:03 08 March 2018 | UPDATED: 10:05 08 March 2018
John Lewis Partnership, which has branches in Welwyn Garden City, has cut its annual staff bonus even further as it announces a major drop in pre-tax profits.
The retail company John Lewis Partnership has cut its staff bonus to five per cent of salaries after it posted a 77 per cent drop in pre-tax profits.
The company has a branch of John Lewis department store and the supermarket Waitrose in Welwyn Garden City.
Annual pre-tax profits up to January 27 fell to £103.9million.
The company famously distributes its profits to employees - or “partners”, as they are known - rather than shareholders.
This is given as an annual bonus as a percentage of staff salaries.
The staff bonus has fluctuated significantly in the last few years.
Last year’s drop to six per cent was the lowest bonus since 1954.
Year-on-year: the fluctuations of the John Lewis staff bonus
• 2003: 10 per cent
• 2011: 18 per cent
• 2012: 14 per cent
• 2013: 17 per cent
• 2014: 15 per cent
• 2015: 11 per cent
• 2016: 10 per cent
• 2017: six per cent
• 2018: five per cent