NEWS
18/08/2020 07:26 BST | Updated 18/08/2020 07:46 BST

Marks & Spencer To Cut 7,000 Jobs As Impact Of Coronavirus Pandemic Continues

The retail giant said it plans to cut jobs in stores, support centres and regional management over the next three months.

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Marks & Spencer has said it plans to cut 7,000 jobs as the company looks to slash costs due to the coronavirus pandemic.

The company says it will reduce the number of roles in its central support centre, in its regional management and UK stores over the next three months.

It comes as M&S revealed total sales in its clothing and home department dropped 29.9% in the eight weeks since shops reopened, with store sales plunging by 47.9% and online sales increasing by 39.2%.

The company said it was “clear that there has been a material shift in trade”.

“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.

The company expects a “significant” number of these roles will be cut through voluntary departments and early retirement. 

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