Sainsbury's cutting 2,000 jobs in UK

(Reuters) - Sainsbury's , Britain's second biggest supermarket group behind Tesco (NASDAQ: TSCO), is seeking to cut up to 2,000 jobs, mainly in its payroll and human resources departments, a company spokesman said on Tuesday.

Sainsbury's is consulting on measures that would lead to a loss of 1,400 jobs by removing all in-store human resource and payroll clerk roles, the spokesman said. http://bit.ly/2ysgfN2

Some 600 further job losses will come from a restructuring to consolidate human resource and other support roles, the statement added.

"Following a comprehensive review, we are proposing some updates to our HR structures and systems, as well as changes to a number of other support roles, subject to consultation," the spokesman said.

Sky News had earlier reported the UK-based supermarket group is cutting 2,000 jobs. http://bit.ly/2ysgfN2

The rise of privately-owned budget chains Aldi [ALDIEI.UL] and Lidl [LIDUK.UL] has transformed the competitive landscape of British food retailing over the last decade, driving down the returns of Britain's big four players - market leader Tesco, Sainsbury's, Asda (NYSE: WMT) and Morrisons (NYSE: MRW).

Sainsbury's was considering cutting 1,000 jobs as part of a drive to save 500 million pounds ($659 million) in costs, media reports said in August.

In March, the company had revealed it was cutting 400 jobs in a restructuring of its store operations.

($1 = 0.76 pounds)

(Reporting by Kanishka Singh; Editing by Adrian Croft)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Oracle reports earnings today: AI spending bet faces its toughest test yet
• Brazil presidential hopeful Bolsonaro under investigation over alleged corruption, court document shows
• Kroger cuts annual sales forecast as consumer spending sputters