M&S expected to announce mass redundancies this week

78
0


Marks & Spencer is expected to announce hundreds of job losses this week, according to reports.

Sky News reports that the business is expected to announce plans for redundancies in the coming days in the wake of the coronavirus crisis.

The high street giant is the latest big-name brand to be hit by the impact of the Covid-19 pandemic, following Debenhams, John Lewis and Boots which have already announced hundreds of job losses.

According to The Mirror, sources told Sky News that  ‘several thousand jobs’ were expected to be lost with chief executive Steve Rowe accelerating an ongoing restructuring of the business.

During the pandemic, M&S took advantage of the Government’s coronavirus job retention scheme as part of efforts to prevent redundancies with around 27,000 – out of a total of 78,000 employees – being furloughed.


Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here