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Covid-19 impact: M&S to cut 950 jobs

Jul 21, 2020 13:32 IST

British multinational retailer Marks and Spencer has announced that it will slash 950 jobs at its head office and stores. The move, it hopes, will lead to a leaner and faster workforce. The cuts represent about 1.2% of its workforce of 78,000. Britain’s retailers have been struggling to return to normal after months of store closures. The cuts follow recent reductions made by pharmacy Boots and department store Debenhams. In the past two years, M&S has closed 54 stores. The brand has struggled in a highly competitive grocery market in the UK and failed to keep up with online fast fashion rivals