Retail giant Marks & Spencer to cut 7,000 jobs due to coronavirus pandemic

Good morning,

Around 7,000 jobs are being axed at retail giant Marks & Spencer as part of a further shake-up of its stores and management in the face of the coronavirus crisis.

The group said the roles were set to go over the next three months across shops, regional management and its support centre.

M&S expects a "significant" number of roles will be cut through voluntary departures and early retirement while it said it will also create some jobs through investing further in online warehousing and its new ambient food warehouse.

It comes as M&S revealed total sales in its hard-hit clothing and home arm plunged 29.9% in the eight weeks since shops reopened, with store sales tumbling 47.9% and online surging 39.2%.

It said sales declines were improving but that it was "clear that there has been a material shift in trade".

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