Sainsbury's to axe 1,500 jobs in cost-cutting drive

29th Feb 2024 15:37

(Sharecast News) - Supermarket chain Sainsbury's said on Thursday that it's planning to cut around 1,500 jobs, as it looks to reduce costs and focus on food.

The jobs will be lost at the store support centre, contact centre operations, bakeries and in the general merchandise fulfilment network.

Where possible, Sainsbury's said it would find find alternative roles for affected staff.

The job losses are part of the new "Next Level Sainsbury's" strategy, which was outlined earlier this month, with a cost-savings target of £1bn over three years.

In a strategy update on 7 February, Sainsbury's said it would be putting food back at the heart of the business.

Chief executive Simon Roberts said at the time: "Our Next Level Sainsbury's strategy is about giving customers more of what they come to Sainsbury's for - outstanding value, unbeatable quality food and great service. Thanks to our scale, our brand and our people, we are in a unique position to deliver for customers across Sainsburys, Argos and Nectar.

"We're going to build on what's driven our success since 2020. We're determined to be First Choice for Food, ensuring more customers in more of our stores can enjoy more brilliant Sainsbury's food. That means more space for our food offer, while still delivering the general merchandise products customers want from us. That way, not only will we find more ways to delight new and existing customers, we will also continue growing volume market share."