What: The retailer is considering hundreds of job cuts as part of its cost-cutting drive.

Why it is important: M&S is back in growth mode after years of decline due to more competitive pricing and improvements in its e-commerce operation.

M&S is reducing teams across the board, largely through natural attrition, however, a spokeswoman for the company has stated that this figure was “simply inaccurate” and the retailer has dismissed the report.

The retailer currently employs around 4,000 employees at its head office in London and is also weighing the option of ditching its headquarters altogether when the lease comes up for renewal in 2028.

Sales rose by 8.6% on clothing and 6.3% on food in the 13 weeks to December 31, and M&S reported interim pre-tax profits of GBP 205.5 million.

M&S eyes ‘hundreds of job cuts’ with head office roles at risk