High street stalwart aims to save £30 million.
Marks & Spencer is axing 400 IT and logistics roles from its London Head Office.
The job cuts come as part as an on-going structural reorganisation which will see a total of 525 roles removed through “fewer contractors, natural attrition and redundancies for M&S employees,” the company said.
The company’s CEO, Steve Rowe, said that these cuts will come due to a need for it to “become a simpler and more effective organisation”, so that it can recover and grow its business.
“It is never easy to propose changes that impact on our people, but I believe that the proposals outlined today are absolutely necessary and will help us build a different type of M&S – one that can take bolder, pacier decisions, be more profitable and ultimately better serve our customers,” said Rowe.
Store workers won’t be affected by the cuts for the company which made £10.6bn in revenue for the full year ended April 2016, a rise of 2.6% on the previous year.
The 132 year old company is hoping to make an estimated £30m in cost savings.
The stalwart of the British high street has in the past been proactive with its IT spending.
In 2015 M&S revealed that it would be adopting the Cloudera Enterprise, Data Hub Edition, in order to analyse data from multiple sources to drive business value and to better understand consumer value.
Things have not always been rosy for it on the IT front though as an apparent 2015 security breach forced its website offline.