Waitrose boss to resign as John Lewis cuts one third of top roles

Bloomberg

John Lewis Partnership Plc plans to cut one-third of the top jobs at its headquarters as it integrates grocer Waitrose with its department-store operations in response to tough UK retail competition.
The reduction of 75 senior managers will save about 100 million pounds ($123 million) over time, the company said.
Waitrose managing director Rob Collins plans to step down next year as the company moves to a single management team.
In March, the employee-owned retailer cut its workers’ annual bonus — often seen as a gauge of the health of the UK sector — to the lowest level in more than half a century.
Supermarket operators have warned that a no-deal Brexit could exacerbate their problems by hitting consumer confidence and causing shortages of fresh foods.