LONDON - British retailer the John Lewis Partnership said on Wednesday it planned to cut another 1,000 store jobs as it strives to meet a cost reduction target.
The employee-owned group, which runs John Lewis department stores and the upmarket Waitrose supermarket chain, said a plan to simplify management structures would result in the roles being made redundant.
It said that as it has 34 John Lewis stores and 331 Waitrose shops the cuts would amount to about 2.7 management roles per store.
The group said it would try to find new roles for affected employees who wanted to stay in the business and try to minimise compulsory redundancies.
A five-year plan, detailed in October, requires the partnership to reduce costs by 300 million pounds ($416 million)per year by 2022 to free up cash to invest in the business.
($1 = 0.7204 pounds)
