Marks & Spencer is aiming to cut 1000 head office jobs. The 58,000 store staff jobs are said to not be affected, the cuts will be focussed at four UK locations over the next two years, saving GBP25m a year of costs in the process.

The job losses stem from a review of M&S's head office and financial services operations, which aims to put the focus on customers. The UK high street retailer has been criticised for being top-heavy with bureaucracy.