M&S to axe jobs

Marks & Spencer is considering axing a number of jobs in its store design and development and property departments. The move is part of the retailer’s decision to scale back growth plans in the wake of the economic downturn.

Marks & Spencer is considering axing a number of jobs in its store design and development and property departments. The move is part of the retailer’s decision to scale back growth plans in the wake of the economic downturn.

An M&S spokeswoman confirmed that a consultation was underway which could lead to a number of redundancies.

It is understood it could result in up to 100 job losses, with three-quarters of the positions in the store design and development division facing an uncertain future, with a large number of jobs in the property team also in doubt.

The M&S spokeswoman says it is still too “early in the process” to confirm just how many jobs would be affected.

She says: “We’re continually reviewing our business teams and this is linked to the scale back of our capital expenditure programme which we unveiled in our trading update.”

Earlier this month, the retailer posted a 6.1% fall in second quarter like-for-like sales in the UK. The result for the three months to September 27 was the company’s worst quarterly performance since early 2005.

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