Waitrose staff bonus at risk again as Budget costs mount

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Waitrose and John Lewis staff could lose out on their bonus payments for another year as costs mount following Budget-related tax changes.

It would mark the fourth time in five years that the 65,000 staff would miss out on the annual benefit.

A decision on the bonus, which is set to be unveiled this week alongside the Partnership’s full-year results, comes as the owner of the supermarket chain faces “tens of millions” in additional costs following Budget tax hikes.


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The British Retail Consortium (BRC) has warned that in 2025 alone, “retailers face over £7bn of additional costs, as changes to Employers’ National Insurance contributions, the increase in minimum wage, and new packaging taxes come into effect”.

While analysts have predicted that the business will post a profit of around £120m for the full-year, retail expert Nick Bubb told This is Money that the Partnership was “unlikely” to reinstate the staff bonus.

A spokesperson for the business told the title: “No decision has yet been made on the bonus. Investing in our partners remains our key priority and we’re increasing Partner pay by £114million this year, that’s £295million in the past three years.”

Last week, the business said that from 1 April, the minimum rate of pay for partners outside London will increase from £11.55 to £12.40 an hour, and from £12.89 to £13.85 for those within the M25.

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1 Comment. Leave new

  • Sean Davis-Loades 1 year ago

    Target if £140 million missed by around £20 million.
    Previously announced that £200 million profit is required to pay the bonus.

    Reply

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Waitrose staff bonus at risk again as Budget costs mount

waitrose

Waitrose and John Lewis staff could lose out on their bonus payments for another year as costs mount following Budget-related tax changes.

It would mark the fourth time in five years that the 65,000 staff would miss out on the annual benefit.

A decision on the bonus, which is set to be unveiled this week alongside the Partnership’s full-year results, comes as the owner of the supermarket chain faces “tens of millions” in additional costs following Budget tax hikes.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


The British Retail Consortium (BRC) has warned that in 2025 alone, “retailers face over £7bn of additional costs, as changes to Employers’ National Insurance contributions, the increase in minimum wage, and new packaging taxes come into effect”.

While analysts have predicted that the business will post a profit of around £120m for the full-year, retail expert Nick Bubb told This is Money that the Partnership was “unlikely” to reinstate the staff bonus.

A spokesperson for the business told the title: “No decision has yet been made on the bonus. Investing in our partners remains our key priority and we’re increasing Partner pay by £114million this year, that’s £295million in the past three years.”

Last week, the business said that from 1 April, the minimum rate of pay for partners outside London will increase from £11.55 to £12.40 an hour, and from £12.89 to £13.85 for those within the M25.

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1 Comment. Leave new

  • Sean Davis-Loades 1 year ago

    Target if £140 million missed by around £20 million.
    Previously announced that £200 million profit is required to pay the bonus.

    Reply

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