UK: Sainsbury to hire 3,000 shop floor staff - report
Struggling UK supermarket group J Sainsbury is reported to be planning to hire up to 3,000 shelf stackers and shop floor staff in a bid to improve the running of its stores.
Chief executive Justin King is expected to announce the new jobs tomorrow [Tuesday] when he sets out his plan to turn the chain around. As part of the shake-up, the company is also rumoured to be planning to cut around 700 jobs as it seeks to reduce the number of middle managers, reported The Guardian.
Last week Sainsbury's issued a clarification statement, confirming press speculation that its half-year profits will be below market expectations.
The company said that underlying profits before taxation for the half year ended 9 October 2004 are expected to be within a range of £125m (US$224.4m) to £135m, compared to £366m a year earlier.
Buying power is often used by supermarkets to negotiate with their suppliers to get lower prices. These savings can then be passed onto the consumer in terms of price cuts and promotions. But do consu...
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