M&S cuts 950 jobs with ‘thousands more at risk’
Tower of London to lay off Beefeaters... a first in 500 years
BEEFEATERS guarding the Tower of London are facing lay-offs for the first time in 500 years.
At least two of the 37 Yeoman Warders who guard the Crown Jewels are understood to have already accepted voluntary redundancy.
Jobs are also at risk at five other sites, including Kensington Palace, which are also run by Historic Royal Palaces (HRP).
Chief executive John Barnes said: “Historic Royal Palaces is a self-funded charity and we depend on visitors for 80 per cent of our income.
“The closure of our six sites for almost four months has dealt a devastating blow to our finances, which we expect to continue for the rest of the year.
“We are heartbroken it has come to this but we simply have no choice.”
The Tower of London – which usually attracts three million visitors every year – reopened on July 10 but can now welcome fewer than 1,000 people each day due to new safety measures.
HRP believes it is the first time that the guards – formed by Henry VII in 1485 – have faced redundancy.
HIGH street giant Marks & Spencer will axe 950 jobs in the latest blow to the retail industry.
The company said most of the cuts would affect store management and head office roles following significantly reduced sales during lockdown.
M&S already had plans to make reductions and close stores but said it was now forced to “make three years’ progress in one”.
The revamp – dubbed the Never The Same Again programme – was an “important step” to making the company “a leaner, faster retail management structure”.
Sacha Berendji, director of retail, operations and property at M&S, said: “Through the crisis, we have seen how we can work faster and more flexibly by empowering store teams – and it’s essential that we embed that way of working.
“Our priority now is to support all those affected through the consultation process and beyond.”
M&S plans to first offer voluntary redundancy to affected staff as sources believe thousands more jobs could be at risk in the coming weeks while boss Steve Rowe presses ahead with restructuring.
Market analyst Nigel Frith said: “We are hearing the word ‘reconstruct’ more often when it comes to brands slashing jobs. With M&S, it’s another label being hit with uncertainty and yet another name left to come up with a quick plan before it is lost altogether.”
M&S, with around 950 stores in the UK, relied on the Job Retention Scheme to furlough 27,000 employees out of 78,000.
The majority of its food stores remained open in lockdown but the pandemic hit other areas.
Since restrictions eased, 25 M&S clothing stores have reopened while 260 clothing and home shops have welcomed customers back following the opening of “nonessential” retail in mid-June.
The company added: “The aftershocks of the crisis will endure for the next year and beyond. While some consumer habits will return to normal, others have been changed forever. The trend towards digital has been accelerated and changes to the shape of the high street have been brought forward.”
In response to the announcement, Downing Street said the Government is “working hard” to get the economy back on its feet.
The Prime Minister’s spokesman added: “This will be worrying news for M&S employees and we stand ready to support them.
“Affected employees will be able to access a wide range of support, including Universal Credit and the
Jobseekers’ Allowance. Our top priority throughout this pandemic has been to support people, protect jobs and help businesses.”
The retailer’s announcement is the latest in a string of major job cuts made by high street giants, including John Lewis and Boots.
While shoppers are returning to the high street, numbers are still 40 per cent below last year, according to analysts Springboard.The capital is suffering even more, with shopper numbers down 71 per cent.
But retail footfall did rise on all but one day last week.