**Title: John Lewis Plans Job Cuts as Retailer Streamlines Services**
John Lewis, the well-known British retailer, is contemplating significant changes to its service offerings that could put around 200 jobs at risk. The proposed cuts involve the closure of in-store money exchange services and dedicated gift wrapping areas across its stores. While no final decision has been reached, the retailer is currently consulting on these redundancy plans, with potential implementation slated for autumn if approved.
A spokesperson for John Lewis stated that the decision to close its in-store bureaux de change is primarily driven by a decline in demand for these services. The company noted a shift in consumer behavior, with more customers opting to order foreign currency online for in-store collection or using credit cards and digital payments while traveling abroad. This change in customer preference has prompted the retailer to reassess its service offerings.
In addition to the money exchange closures, John Lewis plans to relocate its gift-wrapping services from specialized areas to the checkout tills. The retailer believes this adjustment will enhance accessibility for customers, making the service more convenient.
The proposed changes will impact approximately 30 stores for the money exchange services and 25 stores for the gift wrapping services. John Lewis has committed to supporting affected staff throughout the consultation process and is exploring options for redeployment where feasible.
These developments come amid a broader restructuring effort at John Lewis, which has faced challenges in recent years. Under the leadership of Chair Jason Tarry, who took office in 2024, the retailer has undergone various transformations, including job cuts and store closures. Earlier this year, John Lewis also shuttered its housebuilding division, resulting in additional job losses.
Despite these challenges, John Lewis has recently reported improvements in its financial performance. The retailer announced it would award its staff a bonus for the first time in four years, a move that marks a significant turnaround after the bonus was suspended during the COVID-19 pandemic. This decision reflects a rebound in profits and sales, with the company reporting a pre-tax loss of £21 million due to one-off costs, primarily related to the write-down of outdated technology systems. However, underlying profits increased by 6% to £134 million, and overall sales rose by 5% to £13.4 billion.
In comparison, sales growth at Waitrose, John Lewis's supermarket division, outpaced that of the department stores, with supermarket sales climbing by 7% to £8.5 billion, while John Lewis department store sales saw a more modest increase of 3% to £4.9 billion.
As John Lewis navigates these changes, the retailer aims to modernize its services to better align with evolving customer needs and preferences. The outcome of the current consultation process will determine the future of the affected roles and services, as the company seeks to adapt to the changing landscape of retail.