The company yesterday was forced to deny reports that it was poised to axe 800 senior and middle management staff in a bid to slash costs and increase efficiencies.
A spokeswoman said that the stories were "purely speculative" and no decision had been taken over redundancies. She added that even if M&S was to reduce its workforce, "a figure of 800 people is totally beyond the realm of possibilities".
However, she conceded that the blue-chip retailer, which was rocked by a shock profit warning last month, could soon announce the results of a wide-ranging review of its business.
The internal inquiry, which is looking at cutting costs and restructuring M&S operations, is not due to finish until June. However, the spokeswoman suggested that some cost-cutting measures could be implemented before then.
At the time of January' s disastrous trading statement, Mr Salsbury said M&S would cut staff through natural wastage and only use redundancies as a last resort.
City analysts said that they were expecting some staff reductions over the next few months. "Job losses would not come as a surprise. It is something we have been expecting for some time," one said.
The spokeswoman claimed that Mr Salsbury's tour of the City was a "meet and greet" exercise to present the new chief executive to top retail analysts.Reuse content