British department store chain John Lewis is planning to cut roughly 200 positions by closing in-store currency exchange desks and dedicated gift-wrapping counters. The proposed changes would affect bureaux de change in 30 locations and gift-wrapping services in 25 stores, with implementation expected this autumn if the redundancies are confirmed.
The restructuring comes as the retailer navigates mixed financial signals. John Lewis reported a pre-tax loss of £21 million in March 2026, driven by one-off costs of £120 million, even as underlying profit rose 6 percent to £134 million and revenue climbed 5 percent to £13.4 billion. The partnership also restored its annual staff bonus for the first time in four years, distributing 2 percent of salary — roughly £35 million — to its 65,000 employees.
Despite the job cuts, the company ranked second in the UK Customer Satisfaction Index published this week by the Institute of Customer Service.