Produce Business

Perishable Pundit
 
  Home | About | Archives | Sponsorship | Contact Us | Submit / Suggest
  Retail & Foodservice rss  
   
   Canadian Grocery Chain Loblaw Cuts 500 Jobs; To Reinvest In E-Commerce
by Nichola Saminather, Reuters
Posted: Monday, October 23, 2017 at 3:54PM EDT

TORONTO - Canadian grocery chain Loblaw Co Ltd is cutting about 500 jobs across the company, and plans to reinvest the savings into digital and e-commerce services, the company said on Monday.

The job cuts, which began on Monday and make up 0.25 percent of the Toronto-based company’s workforce, will apply to executive and management positions, but will not affect store-level employees, company spokesman Kevin Groh Groh said.

Loblaw shares eased 0.4 percent to end at C$68.90, while the Toronto stock benchmark closed flat.

The job cuts add to the gloom gripping the Canadian retail sector, where more nimble online operators have clawed market share from traditional brick-and-mortar operators.

To read the rest of the story, please go to: Reuters


print article
Print Article
send article
Send Article
Respond
Respond
Permalink
Permalink
Share Article
Share Article


Bakery Dairy Deli Floral  Meat & Poultry Produce Seafood Retail & Foodsvc
 Family Favorites  Wildwood Organics  Walkers Oatcakes  Ideation Foodservice Forum 2016  NYProduce Show 2017  

mail to friend

Got News? Send your latest press releases and announcements to RetailPR@PerishableNews.com