Marks and Spencer announced today that it would be making over 1200 redundancies, closing 25 Simply Food Shops and two main stores. Many of the jobs will also come from head office. Sales in the 13 weeks to Christmas dropped by 7.1% and this is largely to blame for the restructure.

The company has already predicted lower margins this year as food margins will be cut in line with the down turn. Good news for customers, but bad news for shareholders.

There is no news yet on the type of redundancy packages M&S employees can expect. Many retailers have struggled over the Christmas period, many slashing prices during the normally lucrative run - up.


 How have Marks and Spencer handled this situation?
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