MarketerMag.com - UK: Marks & Spencer removes 1230 jobs

THE G7 AGAINST PROTECTIONIST POLICIES
Finance Ministers of the G7 met Saturday, February 14th in Rome to discuss the global economic crisis. The meeting's main issues were the stabilization of the financial markets, but also the struggle against protectionism, representing a new barrier to the global development, according to a press release. Giulio Tremonti, the Italian Minister of Economy, promised that the G7 will engage in creating new rules to reestablish the World's economic stability, the “Legal Standards”. These rules won't be limited to the financial markets according to the minister, and will be discussed in the incoming G20 taking place in London, in April, then in the G8 presidents' meeting in July... READ MORE

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MARKETS - EUROPE
Written by M.E.
Wednesday, 07 January 2009
After a hard year of 2008 and the deceiving results in the yearly sales report with a downfall of 7.1% in the United Kingdom during the last quarter ’08, Marks & Spencer has decided to take some measures in order to reduce group’s expenses. 27 stores will close, and 1230 jobs will be removed according to the group. “Simply Food” food product specialized stores will be the only concerned by these measures. This will cause the deletion of some 780 jobs. The other 450 posts to be deleted are administrative ones. The group wants to reduce by 15% the total number of administrative staff. The remaining staff will not be excluded from these measures, as some financial advantages will be reduced for the actual employees and the retired staff.