John Lewis bonus falls to 10 per cent – but still gets a big cheer
John Lewis Partnership staff gave a huge cheer this morning as the retailer revealed this year's bonus stood at 10 per cent – down on last year's 11 per cent boost.
More than 91,000 JLP partners – who work for both the eponymous department store and Waitrose – applauded as the figure was revealed from a giant envelope at the Oxford Street flagship this morning.
That's equivalent to five weeks' pay, chairman Charlie Mayfield said.
Karen Lord, managing director of the branch, said both businesses had experienced a "challenging year" but still managed to gain market share.
Read more: Here's how much John Lewis paid as a bonus, from 1918 to the present day
It is the most eagerly anticipated announcement of the year for those who work in the company, and previous years has seen figures pulled out of the envelope go well into the high teens.
https://twitter.com/nicolajanewood/status/707853530149867521
https://twitter.com/laurat2323/status/707853822207664128
John Lewis and Waitrose staff are waiting to hear what their annual profit share will be. pic.twitter.com/UvR9VzDGmb
— Rob Davies (@ByRobDavies) March 10, 2016
https://twitter.com/_JamesPartridge/status/707855416416460800
Ever wondered how that bonus has changed over the years? Here's how it compares over the last century.