British retailer Marks & Spencer said on Monday it plans to cut a net 525 roles from its London head office as new chief executive Steve Rowe moves to simplify the business.

The clothing and food group also plans to reduce the number of roles permanently based in central London by about 400, across IT and logistics. The firm said it will enter into a formal consultation with affected employees. Confirmation of the job cut plans follows a Sky news report on Saturday which said M&S planned to axe around 15 per cent of the roles at its headquarters.

Reuters