January 6, 2009
Rash of retailers end jobs in Britain
British retailers began shedding jobs right after the holiday shopping season with thousands of positions slated to end soon, sources said.
Mark & Spender will announce 1,000 job cuts as soon as Wednesday, The Times of London reported Tuesday.
Mosaic, parent company to Principles, Oasis, Karen Millen and Warehouse, has hired a restructuring team from business consultancy Deloitte. About 5,000 employees work at those stores, The Times said.
In addition, Waterford Wedgwood said it had filed for administration (bankruptcy). Should the company go into liquidation, 2,000 jobs in Britain are at stake, The Times said.