Marks & Spencer to slash 1,000 jobs
It seems that not even Britian's retail institution, Marks & Spencer, is immune from the world economic crisis. The high street chain is expected to cut up to 1,000 jobs today due to a poor Christmas sales period.
A spokesperson for M&S will also release the retailer's quarterly results today, where it is believed to show a decrease in Christmas sales of 8.5 per cent.
The bad news has also extended to other high street stores including Debenhams and Next who have also posted profit losses for the festive season. Oh dear, I hope this isn't a sign of things to come...