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LONDON (REUTERS) – British distributor Marks & Spencer said Monday (July 16th) that it would cut 351 jobs in the country's stores, seeking to realize savings in a highly competitive market.
by The Guardian, will be primarily in various store management roles and are unrelated to the M & S program to close 100 UK stores by 2022 that has already cost a few jobs.
"M & S is transforming and it's a difficult but necessary decision to ensure that our stores support the future of the business and provide the best service to our customers," said a door -Store of the Retailer.
M & S reported two consecutive years of declining profits and analysts expect a third The retailer said in May that it was modernizing quickly to survive – a theme that President Archie Norman returned to last week's annual shareholders meeting when he said that M & S "has an engraving platform."
M & S is down 1.2 percent at 1524 GMT [19659006] In 2016, M & S cut 525 net jobs at its headquarters in London
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