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   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

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