John Lewis (JLP) plans 200 job cuts as services change

John Lewis (JLP) is considering cutting around 200 jobs as part of a plan to close its in-store money exchange services and dedicated gift wrapping areas, pending final consultation approval. The closure of the foreign exchange bureaux will impact 30 shops, while the gift wrapping service will affect 25 shops. The retailer reported a pre-tax loss of £21 million, influenced by one-off costs of £120 million due to old tech write-downs, while underlying profits rose 6% to £134 million. This matters because job cuts and service changes could impact customer satisfaction and overall sales performance.