UK's Sainsbury's to cut over 3,000 roles in cost savings drive [CNBC]
TESCO PLC S/ADR (TSCDY)
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Source: CNBC
The company said it was facing a “particularly challenging cost environment.” Sainsbury's also proposes to close the remaining patisserie, hot food and pizza counters in its stores as well the remaining 61 Sainsbury's Cafes. British supermarket group Sainsbury's said on Thursday it was proposing to reduce its headcount by over 3,000 roles as it seeks savings to counter a “particularly challenging cost environment.” The group, which trails only Tesco in UK grocery market share, said it plans a 20% reduction of senior management roles. Sainsbury's also proposes to close the remaining patisserie, hot food and pizza counters in its stores as well the remaining 61 Sainsbury's Cafes. It said it would look to redeploy staff where it could. “We are facing into
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