Redundancy pay cuts anticipated at M&S

Scott, Anna
September 2008
People Management;9/4/2008, Vol. 14 Issue 18, p10
This article reveals the plan of Marks and Spencer (M&S) to reduce the redundancy package for its 70,000 employees. The retail giant has proposed to cut the maximum payout that staff can get based on their length of service. Staff aged between 22 and 40 would get two weeks' pay rather than 2.5. An M&S spokeswoman said they are still ahead of the statutory minimum and their competitors, including Tesco, Gap and Arcadia Group.


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