UK based Retail Major John Lewis has announced to pay £140 million as bonus to its staff. The last year performance of the company was exceptional despite of the economic and retail downturn.

As a result, around 70,000 of John Lewis staff are going to get a handsome amount of bonus this year. Workers are expecting that the extra payment will be approximately 14% of their per annum salary. This amount will be equivalent to eight weeks pay of a person.

Hence, the workers have every reason to cheer for. The company has also announced bonus for the executives. The executive chairperson of John Lewis Partnership, Charlie Mayfield is going to receive a bonus of £103,600 bonus apart from his salary of £740,000.
 
Nick Bubb, retail analyst at Arden Partners, has revealed that the pre tax profit for the privately owned groups was expected to boost due to better sales figures. And in later half of the year, the retail firms like John Lewis department stores and the Waitrose supermarket chain have altogether gained a PBT (Profit before Tax) of around £315 million.