The John Lewis Partnership has announced the next phase of its five year plan to return the Partnership to sustainable profits by 2025.
Following the announcement of the Partnership Plan which intends to see the John Lewis business adapt to the rapidly changing shopping habits of their customers, John Lewis has now announced the next phase of their five year business plan. The company intends to cut 1500 job roles between now and April 2021 with the changes saving £50M, which is a significant contribution to the company’s target of annually saving £300M by 2022.
The company also announced that Patrick Lewis, Executive Director, Finance will leave the Partnership at the end of the year and will be replaced by Bérangère Michel, currently Executive Director, Customer Service, and former Finance Director for John Lewis.
Sharon White, Chairman of the John Lewis Partnership, said: “Our Partnership Plan sets a course to create a thriving and sustainable business for the future. To achieve this we must be agile and able to adapt quickly to the changing needs of our customers.
“Losing Partners is incredibly hard as an employee-owned business. Wherever possible, we will seek to find new roles in the Partnership and we’ll provide the best support and retraining opportunities for Partners who leave us.”
The company states that they will provide market leading redundancy support for those partners who are unable to find new roles, which will include up to £3000 towards a recognised qualification or course.
