John Lewis axes third of top jobs in restructuring

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John Lewis will merge the two halves of its business under a single management structure from next year, resulting in the loss of a third of the top roles.

From February, the department stores and the Waitrose grocery chain will be managed by one top team.

Around 75 of its current 225 senior management head office roles will go the firm said, saving around £100m.

Eliminating separate divisions would allow “more innovation, faster decision making and bolder steps,” it said.