Taking a hit: A woman walks past a Marks & Spencer store in London. The move to eliminate about one-tenth of the store chain’s workforce follows a 39% plunge in the clothing and home arm’s sales in the latest 13 weeks. — Reuters
LONDON: Marks & Spencer Group Plc (M&S) plans to cut about 7,000 jobs over the next three months after its clothing business was hit hard by the coronavirus lockdown, adding to the toll of lost employment in the UK retail industry.
The move to eliminate about one-tenth of the store chain’s workforce follows a 39% plunge in the clothing and home arm’s sales in the latest 13 weeks. A 2.5% gain in food sales failed to offset the impact, and uncertainty over the course of the pandemic and social distancing measures clouded future prospects, M&S said in a statement.
Limited time offer:
Just RM5 per month.
