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 »

We’ve been watching the Gloomy News of companies closing or being bought over, companies laying off thousands of jobs, global economic recession hitting everyone except Malaysia,  here’s BBC’s take on Marks & Spencer Sale which is their FIRST in Four years! [Collection of Global Layoffs]

Marks and Spencer is to hold a one-day, 20%-off sale on Thursday, a move that analysts see as a sign that the retailer is continuing to struggle.

Read the rest of this entry »