The high street giant announced on Tuesday morning that the jobs will be cut across their central support centre, in regional management and in UK stores due to a downturn in profits amid the COVID-19 pandemic. Marks and Spencer said most of the cuts will come from voluntary redundancies and early retirement offers.
Statement from Marks and Spencer“… we are today embarking on a multi-level consultation programme which we anticipate will result in a reduction of c. 7,000 roles over the next 3 months. These will include departures in our central support centre, in regional management, and in our UK stores, reflecting the fact that the change has been felt throughout the business. We expect a significant proportion will be through voluntary departures and early retirement. In line with our longstanding value of treating our people.”
Clothing and home“Total revenue was down 38.5% in the last 13 weeks. In the 8 weeks since store re-opening total sales have been down 29.9% with trends steadily improving. In those 8 weeks store sales were down 47.9% and online has continued to perform strongly up 39.2% on last year.” — Marks and Spencer