UPDATE (BBC) M&S to close stores and cut jobsLONDON, Jan 5 (Reuters) - British retailer Marks & Spencer is set to cut more than 1,000 jobs in stores, its head office and support functions following disastrous Christmas trading, The Times web-site reported on Monday.
The newspaper said the iconic high street chain would announce the cuts on Wednesday, when it is due to release a trading update to the City.
A spokeswoman for M&S declined to comment.
The news comes as retailers across the board are expected by analysts to announce terrible sales figures over Christmas, while some, such as Ireland's Waterford Wedgwood on Monday, have called in receivers. (Reporting by John Bowker, editing by Leslie Gevirtz)
Reuters UK
