With the threat of Brexit looming over the British economy and the ever-growing shift to online e-commerce, brands once considered giants of the UK high street are announcing more drastic measures to stay afloat in a volatile sector.
In March, high street mainstay John Lewis Partnership, whose roots in retail go as far back as 1864, confirmed that it would slash its once-championed employee bonus scheme for its 83,000 retail workers after a recent profits slump and a poor Christmas retail period that left the chain in a state of emergency. Now, the company has confirmed that at least one third of its senior management jobs will be axed with a new structure being implemented in February 2020.
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