London (CNN Business) Marks & Spencer will axe 7,000 jobs over the next three months, delivering another blow to the struggling UK economy as the pandemic changes the way people work and shop. The retailer said it has learned that employees can work more flexibly, and that some can transition between its food and clothing and home departments. New technology in stores has "enabled us to reduce layers of management and overheads in the support office," it added. Marks & Spencer MAKSY Walgreens WBA is the latest UK retailer to slash jobs, as the pandemic crushes clothing sales and accelerates a shift to e-commerce that was already hurting physical stores. TM Lewin, Harrods, Topshop owner Arcadia and-owned pharmacy chain Boots, last month announced up to 5,800 layoffs between them.

Source: CNN August 18, 2020 10:07 UTC