298
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
By
Reuters
Published
Sep 5, 2016
Reading time
2 minutes
Download
Download the article
Print
Text size

M&S plans head office jobs cull as new boss seeks savings

By
Reuters
Published
Sep 5, 2016

British retailer Marks & Spencer plans to cut a net 525 jobs from its London head office, it said on Monday, as new Chief Executive Steve Rowe seeks to simplify the business and reduce costs.


Steve Rowe - Marks & Spencer


The clothing and food group also plans to reduce the number of roles permanently based in central London by about 400 across its IT and logistics functions.

It said the planned reduction in jobs, which follows a review of M&S's organisational structure, would be achieved through a combination of fewer contractors, natural attrition and redundancies for M&S employees. A formal consultation with affected staff will now begin.

“M&S has to become a simpler and more effective organisation if we are to deliver our plans to recover and grow our business," said Rowe.

"M&S has become too complex and inefficient and today’s proposals aim to address this by removing duplication, driving accountability and establishing clear, consistent processes; which in turn will strip out unnecessary costs."

Shares in M&S, down 29 percent over the last year, were down 0.7 percent at 352 pence at 1138 GMT.

Rowe, a 26-year M&S veteran who succeeded Marc Bolland as chief executive in April, has pledged to turn around M&S's struggling clothing business by improving ranges and availability, cutting prices and offering fewer promotions.

However, his plan, outlined in May, came with a warning of a short-term dent to sales and profit and in July the 132-year-old group reported its worst quarterly clothing sales for a decade.

The proposed reduction in head office roles comprises existing vacancies, about 260 M&S roles and about 200 contractors.

M&S currently employs over 3,500 people working across seven UK head offices.

Its more than 71,000 staff in UK stores and supporting customer functions will not be affected by the proposed changes.

M&S said if the proposals go ahead they would deliver annualised operating cost savings of about 1 percent of the UK cost base.

Its cost growth guidance for the current 2016-17 fiscal year remains unchanged at about 3.5 percent.

However, there would be a one off cost of 15 million pounds ($20 million), which includes the changes to the senior management team Rowe announced in May.

The job cut plans come days after M&S announced a 14.7 percent pay rise for shop floor staff but cut premium pay for Sundays and changed the company's pension scheme.

Rowe said in May M&S's other big strategic issues, including the size of its UK store estate and international plans, would be addressed in the autumn.

$1 = 0.7506 pounds
 

© Thomson Reuters 2024 All rights reserved.