M&S to make 7000 Workers Redundant
20th August: Marks and Spencer (M&S) have decided to cut 7000 jobs in the next three months due to the change in the trade because of the coronavirus pandemic.
Not only will people be removed from their jobs in stores but also in the management. It is because there has been a ‘material shift in trade.’
As predicted, the in-store sales were below those in 2019, but the online and delivery earnings were higher this year.
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M&S said it was “too early to predict with precision where a new post-COVID sales mix will settle. We must now act to reflect this change”.
After conducting operations during the pandemic, M&S said that the staff can work flexibly and productively even when they are multitasking, this way their job will be more diverse as they work in clothing food and home departments.
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Ever since the shops have reopened, M&S has noticed a decline in in-store shopping by 47.9%, whereas there has been an increase in online shopping by 39.2%.
At the height of lockdown, M&S boss Steve Rowe said customers might “never shop the same way again” after the coronavirus crisis.
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Mr. Rowe also said that in May the company announced that they will lead operations according to their learning after the pandemic.
He said the proposals to “further streamline store operations and management” were an “important step in becoming a leaner, faster business set up to serve changing customer needs”
Like M&S many other retailers also confirmed that they will be cutting jobs, some notable names include, WH Smith that will shed 1500 jobs and Boots that will make 4000 workers redundant.
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