John Lewis Partnership is reportedly considering losing up to 11,000 jobs in a bid to recover from a £230million full-year loss.
At least 10 per cent of the company’s workforce made up of 76,000 employees could go across the group’s head office, departments stores and supermarkets in the next five years, according to sources.
Managers are developing plans with the number of roles within the firm expected to gradually decrease over a number of years by making workers redundant.
According to The Guardian, a second source claimed the figure was briefed as the company fights to bounce back from a £230m full-year loss.
It comes after John Lewis warned staff about possible job cuts in March last year in a bid to cut costs and use technology to heighten the company’s efficiency.
The group has cut thousands of jobs already, partly via store closures, including 16 department stores as well as a number of food stores over the past couple of years.
The company has been struggling to stay afloat amid tough competition and the costs that come with developing its online offering, according to The Sun.
John Lewis Partnership wrote to staff this week telling them it was cutting the terms of its redundancy package in half.
The new package will offer one week of pay a year of service instead of two for anyone being made redundant from February 1 this year.
John Lewis was this week facing a backlash after accidentally telling staff it was slashing redundancy pay in half.
The troubled firm, which owns the department store chain and Waitrose, apologised to the workforce after they were mistakenly emailed details of the new arrangements earlier than was originally planned.