Around 700 jobs at Canadian retailer Loblaw could be cut as it plans to make its head office “leaner” and “more efficient”.
Loblaw said it wanted to reduce costs and be able to invest more in “value, assortment and service” for customers.
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The job cuts, it said today (16 October), would focus “primarily” on management and administrative positions.
Loblaw president Vicente Trius said: “We’re managing costs where it makes sense by reducing administrative expense. We will continue to invest in driving the business forward by devoting more resources to enhance the customer proposition.”
Trius said Loblaw had opened 14 stores in the last year, adding over 2,000 new jobs. The cuts, he said, were needed to make sure Loblaw stayed competitive.
“This change was made as part of a strategic plan to make Loblaw stronger as we evolve to address changing customer needs and ensure we have the flexibility to adjust to the demands of the marketplace,” he added.
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By GlobalDataLoblaw said in February its profits in 2012 would be lower than a year before amid investment in its supply chain and market positioning. In July, it reported a 21% drop in half-year profits.
