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Staff Bonuses Cut at John Lewis

john-lewis1According to a report on the BBC website, department store chain John Lewis has cut staff bonuses for the first time in three years.

The cuts are apparently due to a fall in profits. Profits for the group, that also owns Waitrose, were down by 3.8% compared to last year.

The staff bonuses were set at 18% of salary last year but they have now been cut to 14%.