The global recession has not spared anyone, just recently department stores and supermarket group giants John Lewis recorded one of its worst loses of 26.4 percent drop in full year profits, and it seems that the future is going to be tough through 2009. Also the annual bonus that was paid to the 70,000 odd staff has been reduced by almost a third.
But none the less they will at least receive bonus payments which seem to elude employees these days. And the bonus has been bought down from 20% of salary to 13% this year.
One feature about John Lewis being that it is owned by its staff, every one of them will receive the same percentage payout, this goes from the boardroom to the shop floor. And as mentioned earlier it is 13% of basic salary this year. As a result there was much chaos and excitement among the employees. And this was evident in its store on Oxford Street where more than 1000 shop staff had gathered to find out their bonus. The managing director of the store Mr. Noel Saunders was finding it rather difficult to manage the crowd and he was guessing and telling the partners could expect something around 12% payout
The secret was unveiled by Paul Thomas who has worked on the floor covering department for almost 20 years and he was selected to announce the figure and after fumbling with envelope he pulled out the all important card having the figure 13%. And ad mists all the customer pepping going on through the door the partners erupted in joy celebrating the bonus after having a tough year on the shop. As they have worked very hard to achieve this brilliant result. And were seen completely enjoying the moment.
The total bonus paid in the year was 125.5m pound which considerably less than last years’ which was 180m pounds. But no seems to mind the reduction in the bonus and there were no frowned faces through out the six floors and the atmosphere was completely ecstatic. Because everyone seems to understand that they are getting bonus at a time when people around the country seem to be losing their jobs.
