Marks & Spencer Group on Wednesday became the latest British retailer to announce job cuts and store closures as the sector grappled with the results of the country’s worst economic downturn in more than 17 years. The iconic British retailer, which sells clothes, food and furniture, reported a smaller drop in third-quarter sales figures than analysts had expected but said that it planned to close 27 stores and cut 1,230 jobs to prepare for what it predicted would be at least another year of economic woes. Read the rest of this entry »
Tags: business outlook down, christmas slow down, economic down turn, financial collapse, global recession, marks & Spencer sale, marks spencer job cut, marks spencer layoff, retailers down, retrenchment marks spencer retailer, UK recession
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