Big changes are on the horizon for John Lewis, as around 200 employees might face job losses. The iconic retailer is considering closing its in-store currency exchange and dedicated gift wrapping areas. This move is part of a broader strategy to adapt to shifting consumer habits and increasing financial pressures affecting many UK businesses.
While nothing’s set in stone yet, the potential closures could start this autumn if plans get the green light. John Lewis pointed to a drop in demand as the reason behind shutting currency exchange services, noting more customers are ordering foreign currency online for collection. Meanwhile, gift-wrapping services might move from specialised spots to the checkout area, meaning fewer jobs designated to this service.
A spokesperson mentioned that the company plans to support impacted employees throughout the consultation process and will explore possible redeployment options. The closure of these services is expected to affect 30 branches for currency exchange and 25 locations for gift wrapping.
Under the leadership of Jason Tarry, who became chair in 2024, John Lewis has been tackling a challenging period, which saw job cuts and store closures. However, signs of recovery emerged earlier this year when the company announced an employee bonus for the first time in four years following a boost in profits and sales.
John Lewis remains committed to investing in its brands and customer satisfaction despite market challenges. With a strong balance sheet, the focus remains on improving customer experience. Here’s hoping for a smooth transition for everyone involved!