Report: M&S to cut 1,000 jobs in recession

Tuesday, 06 January 2009
Marks & Spencer (M&S) is to reveal 1,000 job losses tomorrow after reporting poor Christmas sales figures.

The firm will cut nearly 1,000 posts in stores and several hundred extra positions at its head office in an effort to beat the economic downturn, according to a report in the Times.

Yesterday experts predicted that sales at M&S over the three months to the end of last month fell by between 5.5% and 5.9%.

The company will release its latest trading statement tomorrow (7 January).

In November, M&S said profits for the six months to the end of September fell by 34%.
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