Amazon's Whole Foods Prepares For Organizational Revamp, To Let Go Of Fraction Of Employees - Amazon.com (NASDAQ:AMZN)

Amazon.Com, Inc AMZN grocer Whole Foods Market looks to slash several hundred corporate jobs to streamline operations.
The grocer, which operates across nine regions, will now have six, the Wall Street Journal cites an internal memo.
Whole Foods is restructuring some corporate teams leading to staff cuts. It is not closing any stores or facilities.
The cuts will affect less than 0.5% of its workforce, about 105,000 people. With over 500 stores, the company looks to open about 50 new locations.
Supermarkets are navigating economic uncertainty after experiencing a boom in their business during the pandemic.
Whole Foods executives have said that inflation affects customers and that the company aims to hold more sales events.
The reorganization will occur over the next two months, and each region will be similar in size, which would help Whole Foods operate more efficiently. Employees will hear from leaders of the new areas next week.
As part of the reorganization, three regional presidents are leaving Whole Foods.
During Amazon's fourth-quarter earnings call, Amazon CEO Andy Jassy disclosed halting the expansion of its line of Amazon Fresh grocery stores to evaluate how to make the chain more appealing versus competitors.
Amazon raised focus on Amazon Fresh grocery stores that grew to the dozens after a pandemic-driven rapid expansion.
Price Action: AMZN shares traded higher by 0.88% at $104.72 premarket on the last check Friday.