M&S buyers face uncertain future in jobs cull

7 January 2009

07 January 2009 | Jake Kanter

Procurement staff at Marks & Spencer (M&S) could be in the firing line as the retailer plans to cut 1,230 jobs to help save £200 million in the next two years.

An M&S spokeswoman said purchasing roles "may be affected", but would not comment on any specific areas.

The high street chain wants to reduce its operating costs by as much as 2 per cent during 2009 and 2010, resulting in savings of between £175 million and £200 million.

In a trading update today, M&S said redundancies would be made "across the board" affecting 450 head office staff. A further 780 workers will also lose their jobs when 27 stores are closed.

Company chairman Sir Stuart Rose said the redundancies would be difficult but necessary given the challenging economic conditions. In the three months up to Christmas, sales were down 7.1 per cent compared with the same period in 2007.

M&S has appointed a new head of procurement, who started this week, replacing Bob Tragheim, formerly group head of non-merchandise procurement.


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