7,000 jobs to go in Marks & Spencer shake-up

Marks & Spencer is slashing around 7,000 jobs as part of a further shake-up of its stores and management as it tackles the impact of the coronavirus crisis.

The high street retail favourite said the roles were set to go over the next three months across shops, regional management and its support centre.

M&S expects a “significant” number of roles will be cut through voluntary departures and early retirement.

And it said it will create some jobs, by ploughing further investment in online warehousing and its new ambient food warehouse.

It comes as M&S revealed total sales in its hard-hit clothing and home arm plunged 29.9% in the eight weeks since shops reopened, with store sales tumbling 47.9% and online surging 39.2%.

It said sales declines were improving but that it was “clear that there has been a material shift in trade”.

The group’s latest jobs cull follows 950 jobs job losses announced just last month across store management and head office roles.

But it insisted there were no further updates on stores closures as it ploughs on with an ongoing review of its shop estate.

“Whilst it is too early to predict with precision where a new post-Covid sales mix will settle, we must act now to reflect this change,” it said.

Chief executive Steve Rowe added: “As part of our Never The Same Again programme to embed the positive changes in ways of working through the crisis, we are today announcing proposals to further streamline store operations and management structures.

“These proposals are an important step in becoming a leaner, faster business set up to serve changing customer needs and we are committed to supporting colleagues through this time.”


Business Live – West Midlands