Huge Canadian Grocery Chain to Cut 500 Jobs
It's definitely been a rough couple of weeks for big-name brick and mortar retailers.
The long-standing department store Sears formally announced that it's closing down and eliminating a whopping 12,000 jobs and grocery chain Metro revealed it would be cutting close to 300 (and moving towards more automation) jobs starting in 2021.
Now, it appears Loblaws is terminating positions.
According to a recent Reuters article, Loblaw Co Ltd is cutting roughly 500 jobs across the company and planning to reinvest the savings into "digital and e-commerce services."
The job cuts, which Reuters says began on Monday, Oct. 16 and make up 0.25 percent of the popular company's workforce, will actually apply to executive and management positions rather than store employees (something that's no doubt relieving to the brand's many store-based workers).
But while some staff can breathe a sigh of relief, the news is certainly gloomy for execs who might find themselves job hunting sooner rather than later.
It appears Loblaws is also considering embracing more digitalization going forward.
"The future is digital and that's not lost on us, the need to make significant investment in omni-channel and e-commerce," Groh told Reuters, reportedly declining to say how much the company would save from the cuts.