Hardly any day passed without British newspapers writing something about the outrageous bonuses which the ‘fat cats’ offered themselves. In the meantime, more and more jobs were lost, and more people began having a hard time paying their bills.
These hard times for many people around the world have proven to be a diaster for many retailers around the world. A distinctive feature of the current recession was the collapse of the retail industry in Britain.
For instance, instead of celebrating its 100th anniversay, Woolworths went bankrupt. Some 25-27,000 people became unemployed. It’s very likely that recession-stricken Britons are not enthusiastic about High Street shopping anymore.
Given this generally gloomy mood, it’s remarkable to see that another iconic British brand (John Lewis) appears to be doing very well. A year after the demise of Woolworths, the company is sharing a bonus of £ 151 milion between its 70,000 employees.
I can’t help not noticing that this is another good example form the UK, especially since John Lewis has had a tradition of sharing the profits with those who made them possible. If only all employers offered such working conditions in Britain or anywhere else in the world!
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