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.

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