LONDON, July 20 — British retailer Marks & Spencer plans to cut 950 jobs as part of a store management revamp, dealing a further blow to a sector ravaged by the Covid-19 crisis. Already this month, health and beauty chain Boots and department store group John Lewis have said they will likely...
M&S said in May the pandemic would indelibly change its business and that it would accelerate its latest turnaround effort, which included cost cuts and store closures. — Reuters pic
Already this month, health and beauty chain Boots and department store group John Lewis have said they will likely shed over 5,000 jobs between them after the pandemic accelerated the shift to online shopping. Marks & Spencer , which has a UK workforce of 78,000, said today it had started a consultation with its employee representative group and set out its intention to first offer voluntary redundancy to affected workers across central support functions, central operations and property and store management.The 136-year old group has been seeking to reinvent itself anew after a decade of failed revivals.
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