Martha's "Ruthless Hands" Do Not Accept Salary Cuts Before Christmas.

It is reported that Steve Rowe came to power for nearly half a year, but it has not been seen by the industry.

The hope of recovery in clothing business has made the department store, which has more than 100 years of history, go further and fall apart. From now on, he is even less optimistic than his predecessor, Marc Bolland, which, of course, means that his CEO career may be more short-lived.

The British guardian Wednesday quoted the internal documents of Marks & Spencer Group PLC (MKS.L), Marsha's department store M&S, to report that the British company issued the latest "wage and pension changes" document, which means that if there are any dissenters, it can start negotiations with the company on November 14th, and the deadline for the ruling is December 19th.

Although the spokesman for M&S, Marsha, claims that there is no doubt that the plan will be laid off in disguised form, however, if the employee does not accept the plan, the result may be his resignation.

M&S Martha has issued a new salary and pension plan, which will reduce the overtime pay for holidays. The mirror quoted British Labor Party member Siobhain McDonagh said that many M&S Marsha employees will receive less than 1000 pounds per year -6000 pounds.

M&S Martha department store employees have signed a joint protest against the plan, but the company claims that 90% employees will be better paid, because the company will start raising the minimum wage by 14.7% from April next year to 8.50 pounds (London is 9.65 pounds sterling). At the same time, Sunday's pay standard will be stopped.

For the above plan of M&S Marsha general store, the British Labour Party member Siobhain McDonagh has not only participated in the protest, but also criticized the group for being the only "ruthless hand".

She satirize the British department store to spend 6000 pounds on advertising during Christmas, but threatens to fire 11000 employees who have been loyal and hard working.

M&S Steve Rowe, chief executive of Martha's Department, has been in constant news since April. Its appointment and its plan and group earnings have been severely criticized.

In 2008 - 2012, Kate Bostock, executive director of M&S general merchandise department, Martha general, commented publicly that M&S, Marsha, was suspected of sexism in the appointment of CEO. She said that only women could save the rapidly falling M&S Marsha clothing business.

Like Kate Bostock, the former Steve Rowe promoted to CEO was also in the same position, and still promoted to the post after she was promoted to CEO.

Kate Bostock's remarks quickly responded.

On Monday, September 12th, Laura Wade-Gery, a two year old maternity leave and 50 year old maternity leave, announced that she was leaving the company. M&S

Laura Wade-Gery, 51 years old, was introduced into the company by CEO Marc Bolland, a former group. It has long been considered a successor to Marc Bolland.

However, when she planned to return to the company after a brief maternity leave in January 1st this year, she announced that she would have completed all 1 years' maternity leave by the end of 2015, and the reporter speculated that she might have made the decision because she had no hope of taking over CEO.

As soon as Steve Rowe came to power, the Marc Bolland's "cleaning" campaign was launched rapidly, and the outcome of Laura Wade-Gery was fixed.

When Steve Rowe took office in April 4th, M&S Martha's stock price fell more than 20%, and it lost a lot of FTSE 100, and the 100 index of the British FTSE rose more than 12%.

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Although this kind of "bloodbath" is very common in the industry, CEO usually needs to get a new revitalization plan to get the support of investors, but Steve Rowe is just the opposite.

After the first quarterly report, M&S Martha released a dismal first quarter performance.

In the first 13 weeks as of July 2nd, sales of clothing sales in Marsha, M&S, were deteriorating rapidly, and the sales of general merchandise departments and clothing stores fell by 8.9%, not only far from the market expected 5%-8% decline, but also significantly lower than the 2.7% decline in the four quarter, which is the biggest decline in the past ten years.

Steve Rowe before this is a reorganization of the clothing sector, from brand management to category management, while reducing the price of products, and also plans to abandon the former CEO CEO, which allowed M&S Martha department's profits to rise for two consecutive years, purchasing experts Mark Lindsey and Neal Lindsey.

All of these actions were bullish on investors. On the contrary, analysts expect that the profit of the largest department store in the UK will decline by 12% in the fiscal year 2017 March as a result of the restructuring plan of Steve Rowe. At the same time, it is expected that the group's sluggish clothing business will not be recovered before 2020.

At the shareholders' meeting in July, Steve Rowe was even more embarrassed. She was criticized for not knowing consumers at all. It also confirmed the remarks made by Kate Bostock.

At the shareholders' meeting, he called "Mrs M&S" for middle-aged female shareholders under the platform. Some investors refute it: "my name is not Mrs M&S", and criticized Steve Rowe still living in women from head to toe by Marks & Spencer

In the 1990s, it was pointed out that modern independent women do not like labels, especially they do not like to be associated with a downhill retailer.

Under the threat of declining profits, market rumors that M&S Marsha will stop international expansion and reduce the number of stores in the international market, followed by news of group layoffs, and the news has also been confirmed.

In early September, M&S Marsha confirmed that it had laid off 525 headquarters staff, including 260 Group employees and 200 subcontractor employees.

Steve Rowe said that the company needs to take bold and fast action to form a simpler and more efficient organizational structure. The layoff plan will save the group about 30 million pounds a year, accounting for 1% of the group's UK market expenditure.

However, M&S spokesman said that the layoffs will not affect the group's 3.5% expected cost increase in the current fiscal year.

In addition to the above layoffs, hundreds of people will continue to be removed from London headquarters, involving IT departments and logistics experts.