logo-loader
viewWhole Foods Market Inc

Whole Foods cuts workforce

wholefoods350.jpg
The organic groceries seller added more than 9,000 jobs last year

Grocery chain Whole Foods (NASDAQ:WFM) is to cut its workforce by around  1,500 over the next two months.

The staff being let go represent around 1.6% of Whole Foods' current workforce but the company said it expected a sizeable number of those being made redundant would successfully apply to work elsewhere within the organization.

The organic groceries seller added more than 9,000 jobs last year but has decided to retrench to free up money to enable it to lower prices.

"We believe this is an important step to evolve Whole Foods Market in a rapidly changing marketplace," said Walter Robb, who is joint chief executive officer of Whole Foods.

Shares in Whole Foods were down 0.4% at US$30.98 in a market that was down 2.7%. The shares have lost more than a third of their value, year-to-date.

Quick facts: Whole Foods Market Inc

Price: - -

NASDAQ:WFMI
Market: NASDAQ
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Bango PLC's Ray Anderson details expanded strategic partnership with NHN Corp

Bango PLC's (LON:BGO) Ray Anderson speaks to Proactive London's Andrew Scott after announcing they've expanded its global data partnership as well as receiving a strategic investment from NHN Corp - a South Korean big data business. NHN will invest £6.5mln into the Audiens data platform,...

23 hours, 13 minutes ago

2 min read