Marks & Spencer is set to axe up to 30 more jobs from its marketing department as tough conditions on the high street drive the chain to seek further cost savings.
The retailer says it has started a consultation exercise over job cuts at its 2,000-strong Waterside head office near Paddington. But it refuses to confirm speculation that it is looking to axe 30 staff from its marketing department of up to 200 employees. It is thought that the retailer is seeking to reduce duplication in the marketing team.
This round of job cuts would be additional to those implemented last year in a restructure put in place by previous management. It is not thought that the job cuts would hit senior managers such as marketing director Steven Sharp, a close associate of chief executive Stuart Rose, and head of external marketing Jude Bridge.
Retail analyst Nick Bubb of Evolution says: “With sales being so bad, M&S has to focus on costs to try to keep the bottom line moving.” He says many high street retailers have recently experienced poor sales.
An M&S spokeswoman says: “We are proposing changes in a number of departments in our head office and this is part of a review to ensure we operate with greater efficiency, more speed and lower costs. Unfortunately, there may need to be job reductions in the departments affected. We are in consultation with our people, so it is too early to say any more.”