STAFF at John Lewis will be receiving bonuses worth 18 per cent of their salary, it has been announced this morning (Wednesday).
The department store chain revealed its full year results at 9.30am, which saw operating profit increase by �36.5m, or 22.2 per cent – returning to pre-recession levels.
The company’s business model means that profits are distributed to employees, known as “partners”, rather then shareholders.
The Welwyn Hatfield Times was at John Lewis’ WGC branch today, as managing director Andrew Slater, nursing a broken leg following a skiing accident in France on Friday, announced the results.
When the figure was pulled from a sealed envelope, the packed staff room erupted in cheers and applause, as partners realised they would be receiving the equivalent of nine weeks’ pay.
Mr Slater said: “This has been a great year for John Lewis Welwyn and I would like to thank all our partners for their hard work throughout the year which has enabled us to achieve such great results today.”
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