The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
351 jobs Number of planned job losses
Announcement Date
16 July 2018
Employment effect (start)
16 July 2018
Foreseen end date
Description
Marks and Spencer has confirmed that it will be cutting 351 jobs across its stores. The plans are to cut managerial roles; 182 section managers, 115 operations managers and 54 visual managers will be affected by the proposals. The move to simplify the managerial structure mirrors similar restructures by other high street retailers. It is being reported that the consultation process is underway, though there is no information as to when these job cuts will take effect.
The company had outlined plans for store closures earlier in 2018, but had suggested that there would be further restructuring to come.
Sources
Citation
Eurofound (2018), Marks and Spencer, Internal restructuring in United Kingdom, factsheet number 94709, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94709.
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