Marks & Spencer is the latest high street retailer to announce job cuts in an effort to mitigate declining sales in the face of the credit crunch.
The number of job losses is yet to be confirmed, but it is thought that it will be a significant proportion of the team responsible for store design and development and will number less than 100.

The news follows the retailer's trading update earlier this month, which showed a 6.1% decline in like-for-like sales. In the update, executive chairman Stuart Rose said capital expenditure for the coming year would be cut from £900m to £700m. The savings will be made by postponing a store refurbishment plan and reducing the number of new stores tabled for the period.