Weeks after Marks and Spencer opened its second store in Ahmedabad the company will be making job cuts at its 4,000 person head office, reported Sunday Times.
A company spokesperson told the newspaper that the numbers reported were inaccurate, but did not respond to a request to comment by Bloomberg.
Marks and Spencer has been working on a way to jumpstart its business for over a decade. The company's biggest concerns include staying competitive in clothing, boosting online sales and tackling its expensive store portfolio.
The retailer is also considering if it should give up the lease on its headquarters by London's Paddington railway station that is to be renews in 2028, reported Sunday Times.
McDonald's to temporarily shut it's US offices
Even McDonald's is set on temporarily shutting all its offices in the US and it prepares to deliver news about a fresh round of layoffs to its corporate employees. This is because the company is reviewing its business strategy which could also lead to job cuts in some regions and expansions in others.
Layoffs last week
In the last week companies like Unacademy, Electronic Arts, GitHub, Disney and Glassdoor announced layoffs.
