M&S confirms 525 job cuts from London HQ…
As part of the new M&S chief executive, Steve Rowe’s plans to cut costs and ‘simplify the business’, the retailer has revealed that it will be cutting 525 jobs from its London headquarters and moving an additional 400 positions outside of the capital.
Reports suggest that the retailer is currently consulting with head office staff in its merchandising, marketing and buying departments, and the number of job losses will be reached through a selection of redundancies and non-replacement of leavers.
In addition to M&S’s changes to reducing premium pay for Sunday workers, as well as other reductions in its pay and pensions strategy for shop-floor staff, more than 90,000 people signed a petition calling for the plans to be scrapped; prompting M&S to announce on September 2 that employees would receive
extra compensation to ensure salaries will not fall below current rates in future.
In a statement, Rowe explained the decision: “M&S has to become a simpler and more effective
organisation if we are to deliver our plans to recover and grow our business. It is never easy to
propose changes that impact on our people, but I believe that the proposals outlined today are absolutely necessary and will help us build a different type of M&S – one that can take bolder, pacier decisions, be more profitable and ultimately better serve our customers.”
It is thought that 400 logistics and IT employees will move from London locations to the
retailer’s IT centre in Middlesex, and its distribution hub in Hemel Hempstead.