UK: HQ jobs to go in Asda restructuring
Asda to cut jobs
Asda, the UK supermarket arm of Wal-Mart, has confirmed it will be cutting head office jobs as part of a cost cutting drive.
The company declined to detail the number of jobs impacted, although some reports have suggested in the region of 200 head office positions could be eliminated. No shop floor positions are impacted, a spokesperson for the supermarket operator told just-food.
The spokesperson said the move followed a review of the business prompted by a "structural change taking place in the market".
"This led us to set a new strategy in 2013 which will see Asda redefine value retailing in the UK. Consequently, we have been talking to our colleagues for some time about the need for change. In the spirit of openness, we've let our colleagues know that we will be having some more detailed discussions with them this week about a new structure."
Asda is lowering prices in a bid to defend its market share in a growingly competitive - and price-focused - landscape where discount retailers Aldi and Lidl are stealing sales from mainstream multiples.
Rival supermarket Morrisons revealed it will invest GBP1bn (US$1.67bn) in "self help" measures over the next three years, with a GBP300m investment in its proposition planned for fiscal 2014/15. Meanwhile Tesco, the UK's largest supermarket, said last month it will invest GBP200m in pricing.
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