Whole Foods to cut about 1500 jobs over next 8 weeks

28 Sep 2015 | Author: | No comments yet »

Grocery Chain Whole Foods Cutting About 1,500 Jobs.

NEW YORK (AP) — Grocery chain Whole Foods is cutting about 1,500 jobs over the next eight weeks as it looks to lower prices and keep up with competition. It anticipates workers whose jobs are cut will find other jobs from the almost 2,000 open positions across the company or from new jobs that’ll be created by more than 100 new stores in development. We believe this is an important step to evolve Whole Foods Market in a rapidly changing marketplace.” Whole Foods’ stock is down more than 40% over the past six months, following a series of disappointing quarterly results. New York City’s Department of Consumer Affairs said that Whole Foods stores were overstating the weight of some pre-packaged products, like chicken tenders and a vegetable platter.

In July, the company posted third-quarter earnings and comparable store sales that fell below Wall Street’s expectations while its fourth-quarter earnings forecast was also lower than expected. Whole Foods has said that it is taking steps to prevent overcharging, including training for workers and a pledge to give away products if customers discover they were overcharged.

The first location is set to open next year in Los Angeles, and leases have been signed for additional locations in Bellevue, Washington; Houston; Portland, Oregon; and Santa Monica, California.

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