Marks & Spencer set to cut 950 jobs

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Marks and Spencer is to cut hundreds of jobs as part of an acceleration of its restructuring due to the coronavirus hit to trading.

The retailer said 950 roles among in-store management and at head office were at risk.

A spokesperson said that the move marks “an important step” in it becoming a “stronger, leaner” business.

M&S was already undergoing a restructuring that included cutting costs and closing some stores.

The firm said that due to the pandemic, those measures would be accelerated under a programme called “Never The Same Again”. M&S said it now wanted to “make three years’ progress in one”.

M&S said it had started collective consultation with employee representatives and has set out plans to first offer voluntary redundancy to affected staff.

Sacha Berendji, director of retail, operations and property at M&S, said: “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.”

M&S’s food stores were open throughout the coronavirus lockdown, but trading in other parts of the business was severely impacted. Clothing sales fell by 84% year-on-year at the lowest point, the firm said in May, warning that some customer habits had “changed forever”.

It comes after a wave of redundancies on the High Street, with John Lewis, Boots and Debenhams among retailers announcing huge job cuts.

Other lay-offs announced during the pandemic have included:

On Monday Ted Baker confirmed it could cut about a quarter of its UK workforce after the coronavirus pandemic added to its financial difficulties.

The fashion retailer did not confirm the number of redundancies, but there are reports 500 store and head office jobs will go.

“We have not taken this decision lightly and would like to thank all our colleagues for their hard work,” a spokesperson said. The move is intended to saved about £6m by the end of the year.

Both part-time and full-time roles will be affected. About 200 jobs will go at the Ugly Brown Building, its London headquarters, with the rest from its 46 shops across the UK and Europe, as well as many store concessions.

Ted Baker had been struggling before the coronavirus pandemic hit the UK. The firm reported a pre-tax loss of £79.9m in the year to 25 January, against a £30.7m profit the previous year.

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