Sainsbury’s axes 500 head office staff in cost-cutting drive
Struggling grocer Sainsbury’s is to axe 500 posts at its store support offices in Manchester, London and Coventry as a price war and falling sales take their toll on the supermarket chains bottom line.
This has seen bosses seek to make £500m of cost savings by streamlining operations and mothballing several planned store openings to reduce outlays on real estate.
Explaining the move to staff chief executive Mike Coupe said: "We want to work through this period of uncertainty as quickly as possible, while making sure we consult with colleagues who are affected by these changes.
"We're committed to treating all impacted colleagues with respect, during what we know will be a difficult time.”
As part of its strategic review Sainsbury’s is partnering with Netto in a bid to corner a chunk of the flourishing discount grocer market.