John Lewis 2018 drop in staff bonus announced

PUBLISHED: 10:03 08 March 2018 | UPDATED: 10:05 08 March 2018

John Lewis

John Lewis

Archant

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.

WaitroseWaitrose

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


If you value what this story gives you, please consider supporting the Welwyn Hatfield Times. Click the link in the orange box above for details.

Most Read

Most Read

Latest from the Welwyn Hatfield Times