Support affected staff throughout the consultation process
John Lewis, one of Britain's most storied retailers, is navigating the quiet erosion of services that once defined the high street experience — foreign currency counters and gift wrapping desks — as digital habits render them obsolete. Around 200 employees face potential redundancy this autumn as the company closes these offerings across dozens of stores, framing the move as modernisation rather than retreat. The cuts arrive amid a broader restructuring under new chair Jason Tarry, even as underlying profits rise and a staff bonus returns for the first time in four years — signs that the institution is finding its footing, though not without human cost.
- Two familiar fixtures of the John Lewis shopping experience — the bureau de change and the gift wrapping counter — are being quietly retired as customers migrate to apps, online orders, and contactless payments abroad.
- Roughly 200 staff now face a redundancy consultation, their futures tied to a formal process that will conclude in autumn, with no guarantees of redeployment despite the company's measured reassurances.
- The closures are part of a wider restructuring wave under Jason Tarry, following the shutdown of the housebuilding division earlier this year and a string of store closures in recent years.
- Beneath the turbulence, the financial picture is steadier than headlines suggest — strip out £120 million in one-off write-downs and underlying profit rose 6 percent, with group sales climbing to £13.4 billion.
- The return of a staff bonus for the first time since 2021 — itself the first suspension since 1953 — signals that John Lewis is cautiously reclaiming its identity, even as it reshapes what that identity looks like on the shop floor.
John Lewis has announced plans to close its in-store foreign exchange bureaux and dedicated gift wrapping departments, putting around 200 jobs at risk. The cuts, subject to a formal redundancy consultation, are expected to take effect in autumn 2026. Currency exchange counters will disappear from 30 stores, while gift wrapping will close in 25 locations — though the retailer says the latter service will migrate to checkout counters to remain available to shoppers.
The company attributes both decisions to changing customer behaviour. Fewer shoppers are exchanging currency in person, preferring to order it online and collect it at the door, while travel abroad increasingly means tapping a card rather than counting cash. A spokesperson said the business would support affected staff through the process and seek redeployment where possible, though no firm commitments were made.
The closures are the latest chapter in a sustained restructuring under chair Jason Tarry, who took the role in 2024. The housebuilding division was wound down earlier this year, also at a cost of jobs. Yet there are genuine signs of recovery: John Lewis paid its staff a bonus in March for the first time in four years, ending a suspension that had begun during the pandemic — the first such break since 1953.
The financial results tell a nuanced story. A headline pre-tax loss of £21 million is almost entirely explained by £120 million in one-off charges, largely write-downs on outdated technology. Underlying profit rose 6 percent to £134 million, and total sales grew 5 percent to £13.4 billion. Waitrose continues to outperform its department store sibling, with grocery sales up 7 percent against a 3 percent rise at John Lewis stores. The autumn consultation will determine whether these 200 employees are displaced or absorbed elsewhere in the business.
John Lewis is preparing to eliminate roughly 200 jobs by shuttering its in-store currency exchange counters and dedicated gift wrapping departments, the retailer announced this week. The cuts would take effect in autumn if the company's redundancy consultation process concludes as expected. No final decision has been made, but the direction is clear: the money exchange services will vanish from 30 locations, while gift wrapping operations will close in 25 shops.
The company frames both moves as responses to shifting customer behavior. Fewer people are using the in-store bureaux de change, John Lewis says, because they now prefer to order foreign currency online and collect it when they arrive at the shop. Abroad, customers increasingly rely on credit cards and digital payment systems rather than carrying cash. As for gift wrapping, the retailer plans to relocate the service from its dedicated areas to the checkout counters, arguing this will actually make it more accessible to shoppers.
A John Lewis spokesperson acknowledged the human cost in measured language, saying the company would support affected staff "throughout the consultation process and support redeployment where possible." The phrasing suggests some employees may find positions elsewhere within the business, though no guarantees were offered. The consultation itself—the formal process of discussing the changes with workers and their representatives—will determine whether these plans move forward as proposed.
These closures fit into a broader pattern of restructuring under Jason Tarry, who became chair in 2024 after a period of significant strain. The retailer has already closed its housebuilding division this year, a move that also triggered job losses. Yet the company has shown signs of stabilization. In March, John Lewis announced it would pay staff a bonus for the first time in four years, a symbolic gesture marking a return to profitability after the lean pandemic years when the bonus was scrapped—the first suspension since 1953.
The latest financial results offer a mixed picture. The company reported a pre-tax loss of £21 million, but this was driven almost entirely by £120 million in one-off costs, mainly write-downs on aging technology systems. Strip away those exceptional charges and underlying profits climbed 6 percent to £134 million. Sales across the entire business rose 5 percent to £13.4 billion. The supermarket division, Waitrose, outpaced the department stores, with sales growing 7 percent to £8.5 billion compared to a more modest 3 percent increase to £4.9 billion at John Lewis stores themselves.
The money exchange and gift wrapping closures represent John Lewis's latest attempt to align its physical stores with how customers actually shop in 2026. Whether the redundancy plans win approval in the coming weeks will determine whether these 200 employees face displacement or whether the company finds ways to redeploy them. The autumn timeline suggests a decision point is approaching.
Citas Notables
As we focus on modernising this proposition to meet our customers' changing needs, we're proposing to close our in-store foreign exchange bureaus as well as our gift wrapping service.— John Lewis spokesperson
La Conversación del Hearth Otra perspectiva de la historia
Why would a retailer close services that customers might still want, even if demand is falling?
Because the cost of maintaining those services—the staff, the space, the systems—doesn't justify the shrinking revenue. A currency counter in a quiet corner of a shop becomes a liability, not an asset.
But couldn't they just reduce the number of locations instead of closing the service entirely?
They are doing that, in a way. Thirty shops losing the service means they're consolidating. But the real calculation is probably that even consolidated, it's not worth keeping.
What happens to the 200 people if they can't be redeployed?
That's the question the consultation will answer. The company says it will support redeployment "where possible," which is honest language—it means they'll try, but they're not promising anything.
Is this a sign John Lewis is in trouble?
Not necessarily. The underlying profits are up, sales are up. This looks more like a company cleaning house, removing the parts that don't fit the modern retail model. It's painful for those 200 people, but it's not a distress signal.
Why bring back the staff bonus at the same time they're cutting jobs?
Because different parts of the business are performing differently. Waitrose is doing well. The department stores are struggling. The bonus rewards the overall improvement, but the restructuring addresses the specific weak points.