PARTNERSHIP WARNS IT MUST CUT COSTS
THE John Lewis Partnership has warned it will continue to cut costs as it outlined a new growth strategy aimed at reviving profits.
The retail giant, which runs the John Lewis department store chain and Waitrose grocery arm, said it wants to save £ 300million each year by 2022 by further streamlining its head office
and operations. Last year, the company said it aimed to secure £ 100million in annual savings.
The announcement comes just months after it revealed plans to shut eight John Lewis stores with the loss of 1,300 jobs and the closure of four Waitrose stores in a move which will affect 124 jobs.