M&S staff bonus at risk
Sunday 19 May 2013
Marks & Spencer's store staff could see their meagre £100 bonus trimmed or ditched after the retail bellwether posts a further fall in annual profits this week.
M&S, which launched a make-or-break new fashion range last week, is also set to slash bonuses for board members, head office staff and store managers. The much smaller payout to sales assistants is entirely discretionary and could be at risk, following a sharp drop from an estimated figure of £350 to just £100 last year.
M&S, which has more than 700 UK stores and shops in 44 countries overseas, is forecast to post a 6 per cent fall in profits to £665m over the year to March. This will be its second consecutive year of shrinking profits, and it has suffered seven consecutive quarters of falling homewares and clothing sales.
The chief executive, Marc Bolland, who earned total pay of £1.7m last year, is likely to see his bonus cut again, as 60 per cent of it is based on targets related to profits.
- 1 A daily walk 'can add seven years to your life'
- 2 Rules on 5p plastic bags likely to lead to arguments at the check-out
- 3 Chrissie Hynde says women who 'wear high heels and dress provocatively entice rapists'
University to mark down students who say 'illegal immigrants' in class
Rules on 5p plastic bags likely to lead to arguments at the check-out
The nine most warmongering countries in the world revealed
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
VMAs MTV: Kanye West to run for US president, Nicki Minaj calls out Miley Cyrus and the rest of tonight's winners
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...