Sainsbury's cost-cutting will see 2000 jobs axed

Sainsbury's cost-cutting will see 2000 jobs axed

Sainsbury's, the United Kingdom supermarket chain, is to cut 2,000 jobs in an effort to reduce costs by £500m as rising inflation and competition bite into profits.

In March, the company had revealed it was cutting 400 jobs in a restructuring of its store operations. The changes included scrapping the night shift in 140 supermarkets.

The company has confirmed it has launched a consultation on plans to remove HR and payroll roles from its stores, which is expected to affect around 1,400 staff.

Sainsbury's is not alone in choosing to implement drastic job cuts.

The shake-up by Sainsbury's, which took over Argos a year ago, is part of a previously announced £500m efficiency drive aimed at allowing the company to invest more in its customer proposition.

"This has been a hard decision and we appreciate that this will be a tough time for those colleagues affected by the changes".

Sainsbury's, which employs about 119,000 full-time staff, is moving towards a centralized human resources model and has been working with management consultancy McKinsey on the headcount reduction plan, according to the newspaper.

"Following a comprehensive review, we are proposing some updates to our HR structures and systems, as well as changes to a number of other support roles, subject to consultation", the spokesman said.

Britain's supermarket sector is facing one of its most challenging periods as it grapples with rising costs and tough pricing competition while...

However, as far the "Big Four" are concerned, the situation could get even gloomier.

Related Articles

  • Aussies are the eighth-fastest binge-watchers according to Netflix

    Aussies are the eighth-fastest binge-watchers according to Netflix

    That's the OLD kind of binge watching, the kind where you watch every season of The Office over the course of one summer. Netflix called these viewers "binge racers".
    Gujarat CM asks Rahul Gandhi to break silence over Vadra issue

    Gujarat CM asks Rahul Gandhi to break silence over Vadra issue

    Bhandari, who also made arrangements for his travel overseas . Sitharaman alleged that a London house linked to Mr. Vadra had been refurbished by Mr.

    Restaurant Brands International Inc. (NYSE:QSR) Valuation According To Analysts

    Finally, JPMorgan Chase & Co. boosted its holdings in shares of Restaurant Brands International by 0.6% during the second quarter. Short interest increased from 9,076,602 to 9,690,923 over that timeframe. (QSR) stock moved with shift of 3.18% in the past week.
  • Deepika Padukone's Padmavati theme Rangoli was ruined by people, here's the 'proof'

    Deepika Padukone's Padmavati theme Rangoli was ruined by people, here's the 'proof'

    Describing the horrific episode, Karan tweeted that a group of 100 protesters destroyed the rangoli shouting "Jai Shree Ram". Ranveer Singh features as Alauddin Khilji while Shahid Kapoor plays Raja Ratan Singh, Rani Padmini's husband.
    EPS for Barrick Gold Corp (USA) (ABX) Expected At $0.18

    EPS for Barrick Gold Corp (USA) (ABX) Expected At $0.18

    Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Investors are feeling more bullish on shares of the company if you take into consideration the decrease in short interest.
    Spain's top court rules Cataluña referendum WAS illegal

    Spain's top court rules Cataluña referendum WAS illegal

    Spain's national government has demanded that Cataluña's regional leaders clarify a declaration of independence and renounce it. But Catalan government spokesman Jordi Turull said, "Giving in forms no part of this Government's scenarios".
  • PSL comes to Karachi

    PSL comes to Karachi

    The Pakistan Cricket Board (PCB) has put the pedal to the metal to revive worldwide cricket in Karachi, ARY News reported. I am meeting Sindh CM tomorrow to start preparations for PSL matches in Karachi.
    Boxer Mikaela Lauren Kisses Opponent Cecilia Braekhus During Staredown

    Boxer Mikaela Lauren Kisses Opponent Cecilia Braekhus During Staredown

    But she has fired an early shot by landing a kiss on her opponent when they met at Monday's press conference. Braekhus's first reaction was to shove Lauren's face away-naturally-and then she started laughing.
    Three dead after ammonia leak in Fernie, city says

    Three dead after ammonia leak in Fernie, city says

    Residents who live nearby have been told to evacuate the area and check in with Emergency Social Services at a drop-in centre. The latest information from the city says the site has been contained, but crews are still unable to safely enter the arena.
  • Soros moves bulk of wealth to his foundation

    An iconic hedge fund manager, the 87-year-old founded Soros Fund Management in 1969, and it is now a private family office. George Soros transferred the bulk of his wealth to his charitable organization, the Open Society Foundations.
    Kings Bay Sailors Found Dead Apart At Kings Bay Home

    Kings Bay Sailors Found Dead Apart At Kings Bay Home

    Self-Kyler told ABC News that the two deceased sailors were friends and former shipmates, but they belonged to different commands. Jarrell told his wife he wasn't feeling well while the family was at Disney World last Wednesday for his daughter's birthday.

    Fidget spinner is also a hit in space

    In the video embedded above, the astronauts have some fun with the fidget spinners at zero-gravity. Many people, irrespective of their age groups are now madly in love with these fidget spinners.