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Marks & Spencer seeks technology savings through Tata partnership

The firm will retain a small in-house technology team

Reuters  |  London 

The logo of Marks & Spencer is seen in front of the store on the Champs Elysees avenue in Paris.Photo: Reuters

Britain's has appointed Consultancy Services (TCS) as its partner and is targeting annual efficiency savings of about 30 million pounds ($40.5 million) in the area by 2021-22.

M&S said on Tuesday implementing a new programme, which involves taking on core supplier services and management of specialist suppliers, would incur a one-off cost to implement of 25 million pounds.

In November the clothing and home retailer detailed a new five-year strategy, part of which involved eking out 340 million pounds of additional annual cost savings.

M&S said the changes will involve about 250 existing M&S roles transferring to roles.

The firm will retain a small in-house team.

M&S is scheduled to update on Christmas trading on Thursday.

First Published: Tue, January 09 2018. 23:25 IST