John Lewis chairman opts for first bonus in 3 years

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John Lewis
// John Lewis chairman Sir Charlie Mayfield has opted for a bonus for the first time in 3 years
// John Lewis’ staff were forced to accept a 40% cut to their bonuses in early March
// Mayfield is due to retire in 2020

John Lewis chairman Sir Charlie Mayfield has taken a bonus for the first time in three years.

This follows the news that John Lewis’ staff were forced to accept a 40 per cent cut to their bonuses in early March.

Mayfield will take the three per cent partnership bonus, in line with other employees.

However, the three per cent bonus this year is recorded as the lowest since the 1950s, following a drop in underlying profits at John Lewis Partnership.

The low bonus rate is a result of profit before tax and bonuses crashing 45.4 per cent to £160 million for the period ending January 26.

For the past two years, Mayfield did not opt for a partnership bonus, though it would add £33,000 to his pay packet, which is otherwise unchanged, taking the total to £1.4 million.

Mayfield previously announced he was due to step down in 2020 while John Lewis’ 2019 annual report said the company is still searching for a replacement.

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6 COMMENTS

  1. Shame on him on a already huge wage I got paid today 872 for working as a cashier In London waitrose expecting a baby in 5 weeks on maternity pay

  2. Why shoud’nt he take his share he works hard like the rest of us it does not matter what he earns.
    Probably the most stressful job throughout the whole of the business.
    Good for him.

  3. The fact he’s entitled to it doesn’t mean anything. SIR Charlie Mayfield is a man who comes from a rich background and went to a private school, and already earns millions per year at a time when there are homeless people living on the streets and folk are struggling to get by. Shame on him and his rich friends.

  4. Gobsmacked!
    Total insensitivity to what’s going on around him
    Approx almost 3m foodbanks
    Similar 3m children in poverty
    IDS’s bright spark bungling idea called ” Universal Credit” causing millions left in misery and multiple homeless cases
    His own party’s punitive austerity measures
    And finally the ultimate bungling of a Brexit this country never needed to risk on top of a decade of austerity

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