LONDON (Reuters) – Britain’s John Lewis Partnership [JLPLC.UL] will cut a third of its senior management roles as part of a plan to run its eponymous department stores and its Waitrose upmarket supermarket chain as a single business.
The UK’s largest employee-owned business said on Tuesday the creation of cross-partnership roles and the greater integration of the two brands would see 75 of 225 senior management head office positions removed.
Changes - Bosses - Divisions
The changes mean there will no longer be separate bosses for the two divisions.
The plan will lead to an overall cost saving of about 100 million pounds ($122.5 million) over time, said the group, which in March reported a 45% fall in 2018-19 profit.
Chains - Business - Closing - Stores - Face
Many British retail chains are going out of business or closing stores in the face of subdued consumer spending and a shift to online shopping.
“The lesson of the last two years is that we...
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