M&S is understood to be launching a restructuring plan in the coming days, which will see hundreds of roles being cut and several thousands more impacted over the next few months, according to Sky News.

Although the number of job cuts was not specified, sources close to the situation told Sky News that the retailer’s divisions across retail and property, clothing and home, food and international were all reviewing their cost bases. It also said that those that do cut jobs would do so at different points over the next few months, with the total amount expected to be several thousand roles.