Sainsbury's is set to cut 1,500 jobs in a £1billion cost-cutting mission over the next three years.

It's part of a company-wide shake-up which will put "food first", it'll create more space for food in 180 of its shops to prevent customers from switching to discounters Aldi and Lidl.

The UK's second-largest supermarket will reduce roles in its head office, local warehouses, in-store bakeries and its contact centre in Cheshire.

"As we move into the next phase of our strategy, we are making some difficult but necessary decisions. I know today’s news is unsettling for affected colleagues and we will do everything we can to support them," said chief executive Simon Roberts.

The supermarket said it hopes to redeploy much of the 1,500 that will be affected by the change as it searches for a "more efficient way of freshly baking products".

FTSE 100

The UK's flagship share index, the FTSE 100, was up xx-points, at xx shortly after opening this morning.

Brent crude oil futures was up 0.40% today, trading at $82.24 a barrel.

Companies reporting today

  • IMI - Full Year Results
  • Pearson - Full Year Results
  • Rightmove - Full Year Results
  • Tritax Big Box REIT - Full Year Results

More like this…

View all