John Lewis Partnership reduces redundancy pay from 2 to 1 week's pay, sparking job cut concerns amid financial struggles.

John Lewis Partnership announced a reduction of redundancy pay from two weeks' pay per year of service to one week's pay. This change, which reduces the cost of redundancy, has raised concerns among employees that job cuts might be coming. The retail group has been facing financial challenges, reporting a loss of £59 million in its latest update and cutting thousands of jobs since launching a turnaround plan four years ago.

January 26, 2024
6 Articles