Loading...
Loading...
SUPERVALU Inc.
today announced plans to reduce its national
workforce by an estimated 1,100 positions. The final working dates for
impacted employees vary, based on the needs of the business and the areas they
support. The reductions include both current positions and open jobs that will
not be filled.
“The decision to reduce our workforce, although difficult because of the
impacts to our people, is the necessary next step in the rebuilding of our
business,” said Sam Duncan, SUPERVALU's president and chief executive officer.
“This move is an important part of our strategy to be more focused and
efficient in our operations, including how we staff and support our three
business units going forward.”
Today's announcement follows SUPERVALU's recent sale of ALBERTSONS, JEWEL,
ACME, and SHAWS/Star Markets, as well as the SAV-ON and OSCO in-store
pharmacies, to AB Acquisition LLC. That transaction was completed on March 21,
2013. As a result, the remaining organization will require significantly fewer
corporate and store support roles and functions making it important that the
company restructure its operations and expenses accordingly.
The announcement affects nearly all company offices and crosses most
departments within the organization. In general, store level employees and
SAVE-A-LOT, the company's hard-discount retail chain, are not affected by this
announcement. Employees whose positions are eliminated will be offered
severance and outplacement services based on SUPERVALU's eligibility
guidelines.
Going forward, SUPERVALU is a more focused and efficient wholesale and retail
operation, with three key business units consisting of Independent Business,
SAVE-A-LOT and five strong regional retail banners. These three business units
provide SUPERVALU with a strong foundation and together are anticipated to
generate more than $17 billion in revenues annually.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in