A major shake-up across the Marks and Spencer estate will see 7,000 jobs lost in the space of around 12 weeks.

M&S said the bulk of the cuts would be made across its stores, hitting around 12% of its 60,000 shop-based staff, as well as a smaller number of support centre and regional management workers.

The roles are set to go over the next three months as M&S ramps up its overhaul, dubbed 'never the same again'.

The job losses add to many thousands already announced across the retail sector as the pandemic wreaks havoc on Britain's high street, with department store chain Debenhams last week announcing another 2,500 staff cuts.

READ MORE: Marks & Spencer to cut around 7,000 jobs over next three months

It raises concerns over further store closures but the company said there were no updates on closures at this stage as it ploughs on with an ongoing review of its shop estate.

M&S expects a "significant" number of roles will be cut through voluntary departures and early retirement while it said it will also create some jobs through investing further in online warehousing and its new ambient food warehouse.

The group's latest jobs cull follows 950 jobs job losses announced just last month across store management and head office roles.

It comes as M&S revealed total sales in its hard-hit clothing and home arm plunged 29.9% in the eight weeks since shops reopened, with store sales tumbling 47.9% and online sales surging 39.2%.

It also expects to create "a number" of new jobs as M&S invests in its online capacity.

It said sales declines were improving but that it was "clear that there has been a material shift in trade".

"Whilst it is too early to predict with precision where a new post-Covid sales mix will settle, we must act now to reflect this change," it said.

The group said the pandemic had shown staff can work "more flexibly and productively" and are able to multi-task and move between food, clothing and home departments.

Chief executive Steve Rowe added: "As part of our Never the same again programme to embed the positive changes in ways of working through the crisis, we are today announcing proposals to further streamline store operations and management structures.

"These proposals are an important step in becoming a leaner, faster business set up to serve changing customer needs and we are committed to supporting colleagues through this time."

In May, Mr Rowe revealed plans for his Never the same again restructure overhaul as he warned some shopper habits had "changed forever".

Its latest trading update showed a mixed performance across stores, with those in newer out-of-town locations almost back to pre-Covid sales levels, but town centre shops and some shopping centres still "heavily impacted" by social distancing.

While clothing and home sales remained steeply lower, it said food sales rose 2.5% in the 13 weeks to August 20 and also 2.5% higher in the 8 weeks since stores reopened.

John Moore, senior investment manager at Brewin Dolphin, said: “Today’s announcement, while difficult for the staff involved at M&S, has been a long time in the making.

"The company’s fall from established FTSE 100 constituent to mid-cap has reflected past strategic errors; but, more recently, the business had been going through significant changes even prior to the Covid-19 pandemic.

"Indeed, the measures taken today underline the degree to which the economic impact of the virus has super-accelerated many of the trends that were already sweeping through retail and other sectors.

"The hope will be that M&S, one of the UK’s most iconic brands, emerges from this process a stronger, more future-proof business on the other side – but the next few months will be tough for the company and its staff.”

Housebuilder Persimmon has revealed the impact from the Covid-19 pandemic has seen the number of homes it built in the first half of the year fall 35% to 4,900 compared with 7,584 a year earlier.

With building sites shut and managers scrambling to implement social distancing measures, homes could not be completed and pre-tax profits plunged 43%.

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But the company said the lifting of restrictions and resumption of construction means building levels returned to pre-Covid levels by the end of June and its strong balance sheet meant staff were paid in full during lockdown.

Chief executive Dave Jenkinson said the performance was enough for the board to agree to a 40p per share dividend being paid out.

He added: "Taking an early decision not to take advantage of the furlough scheme for any colleagues, we maintained good momentum in the business, continuing to serve our customers, making detailed preparations for a safe return to work and, when it was appropriate, restarting our build programmes efficiently."

Sales of private homes since the start of July have jumped 49% year on year, with a current forward order book of £2.5 billion - up 21% on last year.

Mr Jenkinson explained: "Our strong opening work in progress position and excellent build rate through the summer give us confidence in a positive second half out-turn.

"We expect that by the end of September, we will have delivered (circa) 45% of our anticipated second half new home legal completions."

Estate agents and lenders have reported a surge in interest in households looking to move - particularly with greater space as City dwellers in particular look at moves to greener spaces with City offices mainly closed.

Revenues for the six months to June 30 were £1.19 billion, down from £1.76 billion a year earlier.

Gross margins on new housing fell from 33.8% to 313% and pretax profits plunged from £509.3 million to £292.4 million.

Stobart Group has started to consult with its colleagues over their futures with the company after easyJet said it was pulling out of both Stansted and Southend airports.

The company, which organises the check-in and baggage handling for easyJet at both of the London airports, said that the decision would have an impact on its business there.

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It said that it is talking to the members of staff who will be affected by the change.

"As a result of the decision to close these airport bases, Stobart Aviation Services will enter a consultation process with the teams affected by this as part of a wider cost management programme within the Aviation division," the company told shareholders on Tuesday.

Southend Airport has also started to consult with its staff after being hit hard by the Covid-19 virus, Stobart said.

The news comes a day after easyJet said it would close its bases at the two sites, and Newcastle Airport.

EasyJet said that around 670 of its staff work at the three airports that it is abandoning.

Stobart did not say how many staff it is consulting with.

According to London Southend Airport's annual report, the airport employed around 220 people, and Stobart Aviation Services had approximately 120 staff at the site in February last year.

Chief executive Warwick Brady said: "Though the 2020 summer and winter periods will continue to be challenging, we expect passenger demand for short haul leisure flying to increase through 2021, and we are in active dialogue with airlines regarding their interest in capitalising on these well-established, profitable routes."

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