Marks & Spencer (M&S) might reduce the redundancy benefits for its 60,000 employees, something that has led to concerns middle management positions may be lost.
The Times reported that it has seen an internal memo from the retailer stating that the maximum payment people made redundant would receive in relation to length of service could be lowered to 52 weeks, down from 70.

And the newspaper said that the board at M&S has been warned by staff representatives many are concerned and angered by the proposals.

"There is zero confidence that we will not be entering another round of redundancies, and a strong suspicion that this is one of the reasons behind the proposal," a letter from them read.

Under the fresh proposals, employees 41-years-old or over would only be entitled to three weeks' pay for each year worked if made redundant, a cut from the present level of 3.75 weeks.

Such changes would place M&S in line with similar retailers, a spokeswoman at the firm said, adding that these conditions are more attractive than those at its competitors.

Source: talkingretail