Marks & Spencer confirms cull of its head office staff
Marks and Spencer has confirmed it will cut 525 jobs in its head office to ensure the business can "work more simply and efficiently".
The business will be entering a consultation with employees over the changes which will also result in the number of staff based in London decreasing by around 400, with IT and logistics jobs likely to be lost.
M&S said it will reduce the number of contractors it employs, as well as making redundancies among M&S employees.
The proposals will deliver significant cost savings, it added.
Read more: Off the mark: Is it time to split Marks & Spencer in two?
Steve Rowe, the retailer's chief executive, said: “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.”
The changes came after M&S concluded a consultation over pay changes for store staff on Friday, saying it will go ahead with cuts to premium pay on Sundays and bank holidays. Pension contributions will also be cut. Basic pay will be increased under the changes, however.
Now, it appears middle-management also faces an overhaul as the embattled retailer attempts to turn its fortunes around.