M&S staff await the outcome of ownership bids

Staff at struggling high-street retailer Marks & Spencer face an
uncertain few weeks as the battle for ownership of the company begins.

M&S’s new chief executive Stuart Rose began his £850,000 job last
Tuesday, while billionaire retail tycoon Philip Green has bid £9bn for the
company.

The upheaval could lead to many changes in personnel at M&S, which
employs 58,000 staff in the UK, according to Richard Hull, retail account
director at consultancy Capgemini.

"I suspect Rose will give it a month before making any changes, but
those at board-level and one level below should start sending their CVs
out," he said.

A spokeswoman admitted that the prospect of a bid from Green, who has a
reputation as a cost-cutter, has created uncertainty among staff.

M&S has already confirmed that 1,000 jobs in its head office function
will be cut over the next two years, as part of a move from Baker Street to
Paddington.

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