M&S job cuts: How many job losses are there and will there be store closures?
20 July 2020, 15:12
Marks and Spencer has seen some major set backs during the coronavirus lockdown.
This week, Marks and Spencer announced their plans to get rid of 950 jobs across the company.
This comes after M&S had their sales hit badly during lockdown where shops across the UK shut for months.
The brand have said that their restructuring plans will lead to "a leaner, faster retail management structure".
How many job losses are there at M&S?
M&S have revealed plans to axe 950 jobs.
For the affected employees, a consultation process will begin soon while they also look into voluntary redundancies.
M&S's head office and property and store management areas of the company are said to be the most impacted.
This comes after 27,000 of their employees – out of 78,000 – were furloughed during the peak of COVID-19.
Are their M&S store closures?
There have been some closures of Marks and Spencer stores across the UK, but these plans have been in the works since last year.
In May this year, M&S had closed 47 stores.
The company plan to shut another 53 before 2022.