Chief Executive Steve Rowe says M&S needs to be leaner. Previous NextBritish retailer Marks & Spencer plans to eliminate about 7,000 jobs as it streamlines management and store operations after sales plunged during the coronavirus pandemic. Sophie Lund-Yates, an analyst at financial services firm Hargreaves Lansdown, said the cuts stemmed from Marks & Spencer’s understanding that drastic measures were needed to survive. Some 68 percent of Marks & Spencer’s orders were delivered to customers’ homes during the quarter, compared with 29 percent during the same period last year. “These proposals are an important step in becoming a leaner, faster business set up to serve changing customer needs,″ Chief Executive Steve Rowe said.-AP

Source: The Standard August 18, 2020 12:11 UTC