// M&S considers hundreds of job cuts as it reduces teams across the board
// M&S is back in growth mode after years of decline due to more competitive pricing
M&S has claimed that reports it is to cut hundreds of head office job cuts as “simply inaccurate.
The Sunday Times reported that the retailer is reducing teams across the board, largely through natural attrition, with hundreds of jobs expected to be cut.
An M&S spokeswoman said this figure was “simply inaccurate”.
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M&S is back in growth mode after years of decline due to more competitive pricing in groceries and improvements to its ecommerce operation.
In the 13 weeks to December 31, like-for-like sales rose by 8.6% on clothing and by 6.3% on food. M&S reported interim pre-tax profits of £205.5 million.
In 2020, M&S cut 950 head-office jobs as part of a broader cull of 7,000 roles – about 9% of it workforce.
As it prepares for job cuts, M&S is weighing up whether to ditch its London headquarters altogether when the lease comes up for renewal in 2028.
