M&S with stores in Bury St Edmunds, Ipswich and Lowestoft to cut 7,000 jobs
Retail giant Marks & Spencer, which has several stores in Suffolk, is set to axe around 7,000 jobs as part of a further shake-up of its stores and management.
The retailer also has a number of outlets at petrol stations in Suffolk, with three in the Newmarket area, and a food hall at Martlesham Heath retail park near Ipswich.
M&S expects a “significant” number of roles will be cut through voluntary departures and early retirement while it said it will also create some jobs through investing further in online warehousing and its new ambient food warehouse.
It comes as M&S revealed total sales in its hard-hit clothing and home arm plunged 29.9 per cent in the eight weeks since shops reopened, with store sales tumbling 47.9 per cent and online surging 39.2 per cent.
It said sales declines were improving but that it was “clear that there has been a material shift in trade”.
“Whilst it is too early to predict with precision where a new post-Covid sales mix will settle, we must act now to reflect this change,” it said.
Chief executive Steve Rowe added: “As part of our Never The Same Again programme to embed the positive changes in ways of working through the crisis, we are today announcing proposals to further streamline store operations and management structures.
“These proposals are an important step in becoming a leaner, faster business set up to serve changing customer needs and we are committed to supporting colleagues through this time."