John Lewis reduces its bonus

In the U.K., the retail cooperative John Lewis Partnership (JLP), which is owned by its 86,700 employees via equal shares and controls the John Lewis department stores and Waitrose supermarkets, reduced the bonus to 6% of annual salary during the fiscal year to January 2017. This the lowest level since 1954 due to the challenging retail environment and the lower Sterling Pound, which causes more expensive imports. The bonus rate is the same for everyone, from the C.E.O. to the cashiers....