M&S jobs to be axed in shake-up
- Credit: Archant
Marks and Spencer is to cut around 7,000 jobs nationally as part of a shake-up of its stores and management.
The retail giant, which has stores across Suffolk including in Ipswich’s Westgate Street, said a “significant” number of roles will be cut through voluntary departures and early retirement.
Some jobs will be created through investing further in online warehousing and its new ambient food warehouse, but M&S said store sales had fallen dramatically - by 47.9%.
While online sales have risen 39.2%, its clothing and home arm fell 29.9%.
It is not clear where the jobs will be lost and how many will go in Suffolk, but the store said it was “clear that there has been a material shift in trade”.
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“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.
Chief executive Steve Rowe added: “As part of our Never The Same Again programme to embed the positive changes in ways of working through the crisis, we are today announcing proposals to further streamline store operations and management structures.
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“These proposals are an important step in becoming a leaner, faster business set up to serve changing customer needs and we are committed to supporting colleagues through this time.”