Apparently M&S CEO Steve Rowe has decided to shake things up by reorganising or closing dozens of stores. some stores may also be relocated!
On top of that there are reports that clothing will take a bit of a back seat and therefore be sold in less stores overall, as their food dept seems to be storming it and becomingever popular.
There doesn't seem to be anything set in stone just yet, although the closure of so many stores could indeed mean huge job losses over the next few years. Official announcements on the changes should follow as soon as next week.
This "Seismic shift" is all in aid of bringing the M&S performance up, after recent uninspiring results. Time will tell and I'll try and update with any more info as and when I see anything. Hopefully the job losses will be kept to a minimum, although according to Sky news " Mr Rowe has proposed axing more than 500 head office jobs in an attempt to exert a tighter grip on its cost-base."
News source Here