Your commercial news round-up: new tariffs, Ocado job cuts, John Lewis, chocolate thieves

Reading time: four minutes

The economic and corporate landscape is shifting once again as US President Donald Trump’s newly imposed global tariffs take effect. In the UK, Ocado is preparing to shed around 1,000 jobs amid major restructuring, John Lewis has abandoned its ambitious rental-homes plan and retailers across the country are resorting to locking up chocolate bars as theft continues to rise. Read on for LCN’s picks of this week’s top commercial stories!

• US President Donald Trump’s new global tariffs have taken effect at 10%, lower than the 15% rate he said he’d apply on Saturday, following a Supreme Court setback. According to BBC News, official documents show no directive to raise the rate beyond 10%, although a White House official told Reuters the administration is working to update it to 15%. The move comes days after the US Supreme Court ruled Trump overstepped his authority by imposing sweeping tariffs last year under the International Emergency Economic Powers Act. The new 10% levy, introduced under Section 122 of the 1974 Trade Act, can remain in place for 150 days without congressional approval. Analyst with investment bank ING, Carsten Brzeski, warned: “The risk of a real fully-fledged tariff war – trade war – escalation is clearly higher than last year.” Trump has previously argued that tariffs were needed to reduce the US trade deficit. However, the deficit hit $1.2 trillion (£890bn) last year, marking a 2.1% increase from 2024. Postal company FedEx and campaign group We Pay The Tariffs are seeking refunds on earlier tariffs, although experts say repayments are unlikely.
   
• Ocado is expected to cut 1,000 jobs – about 5% of its global workforce – as part of a major restructuring aimed at saving £150 million in technology and support costs by 2026. Around two-thirds of the cuts will fall in the UK, with roughly half affecting technology roles and the remainder coming from support staff. The technology business, which operates robotic warehouses for supermarket chains, said it’ll scale back research and development, and streamline its commercial and support functions. It’ll merge Ocado Solutions and Ocado Intelligent Automation into a single division, citing “AI efficiencies” and “cost discipline”. CEO Tim Steiner confirmed that “a significant number of roles will no longer be required” and pledged support for affected staff. The move follows setbacks with overseas partners. Canadian supermarket Sobeys is closing an automated warehouse in Calgary that used Ocado’s robots and technology, while US partner Kroger recently shut three facilities – developments that have weighed heavily on Ocado’s valuation and growth prospects.
   
• The John Lewis Partnership has scrapped a £500 million plan to build nearly 1,000 rental homes in Bromley, Reading and West Ealing, citing a “fundamental shift in economic conditions” and a more cautious property market. A spokesperson from the retailer said: “Unfortunately, the current climate – higher interest rates, inflationary pressures and a more cautious property market – has meant the model no longer meets the partnership’s investment criteria.” Its financial partner Aberdeen is said to have experienced fundraising difficulties for the plan between 2022 and 2025 because of a “challenging UK market”. The decision marks a further retreat from diversification plans launched five years ago under former chair Sharon White, which aimed to generate 40% of profits outside retail by 2030, including building up to 10,000 homes. John Lewis said: “Since we embarked on the rental property plans in 2020, we have made significant progress with our core retail strategy. This has seen us invest heavily in our customer offer for our unique brands, John Lewis and Waitrose, simplifying our business and strengthening our balance sheet.”
   
• UK retailers are locking up chocolate bars in anti-theft boxes after reports of products being stolen “to order”, with police and industry bodies warning of a growing trend. Sainsbury’s has confirmed it’s securing frequently targeted items, including £2.60 Cadbury Dairy Milk bars at a London branch, while other major chains such as Tesco and Co-Op have introduced plastic security boxes requiring staff assistance. The Association of Convenience Stores said chocolate is increasingly being “sold on by criminals” and targeted by prolific offenders. The National Police Chiefs’ Council said it is working with forces to address the issue, as local police have been sharing footage of large-scale thefts in recent months. The Heart of England Co-Op group said chocolate theft cost it £250,000 last year, with individual shelves worth up to £500 being cleared at once. Its CEO Steve Browne referred to chocolate theft as a “massive issue” and commented on incidents: “In a particular shop, one individual could cost us thousands of pounds in a week […] They were coming in... then literally swiping the whole shelf."

Check the News every Thursday for this weekly commercial news round-up. Prefer to listen to your commercial news? Why not check out our Commercial Connect podcast?

Follow LawCareers.Net on X, LinkedIn, and Instagram for regular business news updates.