Marks and Spencer to cut 7,000 jobsChristian Fernsby ▼ | August 18, 2020
Marks and Spencer total revenue was down 38.5% in the last quarter.
Marks and Spencer In the 8 weeks since store reopening total sales have been down 29.9%
Topics: Marks and Spencer
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 embarked 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. ■