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Marks & Spencer set to cut 950 jobs due to financial losses caused by pandemic, The Manc

Marks & Spencer set to cut 950 jobs due to financial losses caused by pandemic

Cuts will take place in both M&S head office and in stores following a 21% drop in profits – with the company taking a £52 million hit during the pandemic.
Marks & Spencer set to cut 950 jobs due to financial losses caused by pandemic, The Manc

Marks & Spencer has announced it will cut 950 jobs as the retailer becomes the latest big name to suffer a financial blow from the ongoing pandemic.

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Cuts will take place in both M&S head office and in stores.

After taking a hit of more than 50 million, it is expected that as many as 70 premises may close in the future, putting hundreds of additional jobs at risk.

Whilst its food outlets remained open during lockdown, M&S profits have fallen by 21% due to the closure of its clothing stores.

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Sacha Berendji, the M&S director of retail, operations and property, said in a statement: “Through the crisis we have seen how we can work faster and more flexibly by empowering store teams and it’s essential that we embed that way of working. Our priority now is to support all those affected through the consultation process and beyond.”

“Through the crisis we have seen how we can work faster and more flexibly by empowering store teams and it’s essential that we embed that way of working.

“Our priority now is to support all those affected through the consultation process and beyond.”

Upper Crust, Pret, and Casual Dining Group (the owner of Las Iguanas and Cafe Rouge) have all had to trim staff numbers in recent weeks, with the UK high street continuing to suffer as a result of the pandemic.

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