Finnish retail chain Kesko today (Wednesday) announced a reorganisation of its Kesko Food retailing operations with the estimated loss of 160 jobs.

"Kesko Food Ltd will improve its operational efficiency with the aim of increasing the competitiveness of K-food stores," it said. "At the same time, Kesko Food and K-Plus Oy, which is responsible for the K-Alliance's customer loyalty system, will intensify their co-operation. Due to these arrangements, a co-operation procedure will be started on 12 April."

Kesko aims to achieve annual savings of over $20m (US$25.7m).