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Clothing retailer M&Co has announced it is to cut 59 jobs from its head offices in London and Inchinnan.
The majority of redundancies are said to come from the retailer’s Inchinnan offices however it says it will also cut “four or five” roles from a workforce of 120 at its London office. The company says it is reviewing its operations and looking to focus more on e-commerce business.
As many as 280 members of staff are located at the company’s Inchinnan offices, while the rest of its staff work in its 269 retail stores across the UK. Some 28 members of staff are said to be at risk of compulsory redundancy, while 27 members of staff are said to have taken voluntary redundancy.
According to M&Co staff have been offered double the statutory redundancy pay, and will not be required to work their notice periods. An M&Co spokesperson said it was trying to “reallocate jobs into other roles within the company”.
An M&Co spokesperson said: “Having undertaken a detailed, strategic review of the business over recent months, an increased focus on our fast-growing e-commerce operation and further investment in IT are key priorities for us.
“We are a strong, robust and profitable business with over 3,000 employees and 269 stores nationwide, but we must reduce our central overhead costs to ensure we maintain and build upon that hard-won position. These latest changes, whilst regrettable, are vital to ensure we are in the best possible shape to capitalise on the future developments in our sector.”
