LONDON - Marks and Spencer, the British retail chain selling clothes and food, is to cut around 7,000 jobs as the coronavirus pandemic increasingly pushes customers to shop online, it said Tuesday.
Marks employs more than 80,000 staff, of whom the vast majority work in the UK. Chief executive Steve Rowe said the company would become a"leaner, faster business set up to serve changing customer needs". While total group sales slumped by around one fifth in the 19 weeks to August 8 - which included most of the period Britain was in lockdown - online revenue surged nearly 40 percent, Marks said Tuesday.
The company joins the likes of UK department store chains Debenhams and John Lewis, as well as pharmacy group Boots, in cutting thousands of jobs owing to fallout from Covid-19.
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