White collar Covid cull: John Lewis will axe 1,500 head office staff in cost-cutting drive to save £300m while Lloyds is set to lay-off 1,070 employees
John Lewis has announced today it is to cut 1,500 head office jobs in an effort to bolster the business in the devastating coronavirus pandemic. The John Lewis Partnership revealed the cuts as part of the next phase of its five-year plan to return it to sustainable profits by 2025. It is the latest blow of the high street bloodbath consuming retail in the wake of the Covid-19 outbreak. John Lewis - famous for its Christmas ads - is widely seen as a benchmark for High Street performance in the UK. But it received a serious blow earlier this year after its Waitrose arm was ditched by Ocado in favour of Marks & Spencer. John Lewis announced it will cut 1,500 head office jobs to bolster the business The news came on the same day Lloyds Banking Group has said it plans to cut another 1,070 jobs as it continues a major restructuring programme. John Lewis said Patrick Lewis, Executive Director, Finance had also decided to leave at the end of this year ending a 26-year career. Chairman Sh