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Is Marks And Spencer Looking To Reduce Staff Numbers?

News that Marks and Spencer (M & S) is in talks with business development staff about changing the redundancy packages which are offered to staff does not bode well for the immediate future. As you might expect, the move has met with widespread criticism from within Union circles with the GMB union particularly vocal in their concerns. So what is happening?

It has been revealed that M & S is looking to cut its redundancy terms more towards the sector average and away from the very generous terms which have been in place for sometime. As the group has in excess of 70,000 staff in the UK it would not take a genius to see that they must have plans to slim down the operation as the economic downturn continues to hit business. So can you blame the management of M & S?

As M & S is a public company the directors have obligations towards staff as well as shareholders and it can be difficult to balance these. While the Unions will complain about the possible reduction terms, in private it must have been expected as the current terms are more than generous compared to rivals. Conserving cash and keeping the business on an even keel is vital to both shareholders and staff although it looks as though there will be some short term pain.

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