Marks & Spencer Layoffs Job Cut: fires 1230 employees: Finance Trading Times

Marks & Spencer Layoffs Job Cut: fires 1230 employees

The retail sector is feeling the heat across the globe. As a measure, they are going for layoffs. The latest one to add to the list is, UK based retail giant Marks & Spencer. It has decided to fire around 1230 employees. Marks & Spencer  Layoffs

How many employees will be fired in the Marks & Spencer layoffs?
Around 1230 employees will be fired by the company.

Will there be any stores closed by Marks & Spencer?
Yes. Around 27 stores will be closed by Marks & Spencer.

What is the employee strength of Marks & Spencer?
The total no. of employees at Marks & Spencer is around 70,000.

Which department and segment will see the Marks & Spencer layoffs?
Around 780 jobs will be gone because of 27 store closures, while 450 jobs will be cut at the Marks & Spencer head office.

When will the Marks & Spencer layoffs happen?
It is to be conducted by next month.

How much savings can be achieved by the Marks & Spencer layoffs?
Around 200 million GBP are expected to be saved by the Marks & Spencer layoff move. The only worry is that following Marks & Spencer layoffs, it is possible that other retailers may also start the layoffs as most of them have had bad sales in the much expected Christmas season.

What are the primary reasons of Marks & Spencer layoffs?
Declining sales, bad Christmas sales record, worsening market situations and so on.
Let's hope that alternative jobs are available to the affected employees of Marks & Spencer Layoffs Job Cut
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