Marks & Spencer to cut around 7,000 jobs amid coronavirus sales slump

British retail giant Marks & Spencer to cut around 7,000 jobs as part of a further shake-up of its stores and management in the face of the coronavirus crisis.

M&S said the job cuts will come over the next three months in its central support center, regional management as well as stores.

M&S sees 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.

M&S said over the last 13 weeks, like-for-like food sales, excluding the closure of hospitality and travel franchise units, rose 10.6 percent, while clothing and home revenue slumped 38.5 percent.

Since stores re-opened, total clothing and home sales have been down 29.9 percent.

The retailer said in the last 8 weeks, online sales have represented 41 percent of its clothing and home total.