M&S: We will not be making any job cuts
26/02/2008(16:21)
Marks & Spencer (M&S) has reassured employees that no job cuts will be made, despite falling sales for the retailer.
Sales for the company were down 2.2 per cent for the Christmas period, compared to 2006, reports Personnel Today.
Following the release of the figures, shares dropped dramatically, reducing the company's worth by £1.5 billion.
Despite the results the HR director, Keith Cameron, told the magazine that he was sure M&S would grow as a business rather than make cutbacks.
"What we are committed to are the plans we expressed last year to really grow our e-business and international business," he said.
"There will be no job losses. The number of staff has increased year-on-year."
He said the drop in sales may be due to M&S's rapid expansion from 360 to 600 stores in the past three years.
Of their recruitment M&S says it aims to be "the standard against which all other retailers are measured".
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