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11/10/2016
Staff at John Lewis and Waitrose will share £145.0 million in profit, which represents 10% of pay or the equivalent of more than five weeks' pay. Last year the bonus was 11%, down from 15% in 2014 and 17% in 2013. Partners, as co-owners, each receive the same percentage of pay as a ‘partnership bonus’, which flexes from year to year reflecting the performance of the business.
Announcing the partnership’s latest financial results, Sir Charlie Mayfield, Chairman of John Lewis Partnership, said:
‘I am very pleased that 91,500 partners will receive a bonus of 10%, which is equivalent to more than five weeks' pay. Partners worked especially hard this year coping with unpredictable patterns of trade and the need to keep costs tight, making these results hard won and their bonus well deserved. Taken together with the rising cost of pensions, the total combined cost we have set aside in our income statement for bonus and pensions was higher than prior years.’