ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Whole Foods cutting hundreds of roles to simplify operations

Whole Foods is trimming down its global and regional support teams in order to further simplify operations. The layoffs will be less than 1% of its total workforce.

Amazon-owned Whole Foods is laying off hundreds of corporate workers over the coming months as part of a reorganization effort. 

The high-end grocer, which has over 500 stores across North America and the U.K., told staff in a memo Thursday that it is seeking to "further simplify" its operations and as a result, will "make a few changes" to certain global and regional support teams over the next two months. 

The layoffs will impact less than 1% of the company's total workforce, but it will equate to over 100,000 roles, according to the Wall Street Journal. It will not impact any store or distrubution roles, according to Whole Foods. 

The company is not planning to close any stores or facilities as a result of the layoffs, either. 

WHOLE FOODS IN SAN FRANCISCO CLOSING ONE YEAR AFTER OPENING DUE TO SAFETY CONCERNS: REPORT

"We are evolving our operating structure and making adjustments to some corporate teams, so we can better support our stores as Whole Foods Market continues to grow and expand its reach to serve more customers," a Whole Foods Market Spokesperson told FOX Business in a statement. 

Among the changes, the company told employees that it will adjust the structure and improving processes of several other global support teams, create a company-wide operations team and enhance its Team Members Support. 

WHOLE FOODS MARKET EXPLORES BUILDING OFF-SITE KITCHENS TO SUPPLY FOOD BARS

It will also be shifting from nine to six regions in order to allow the company "to quickly make decisions, implement sustainable processes, and scale innovations."

The company still plans to open 50 new stores. Additionally, in the next few years, it is planning on having a pipeline of closer to 100 stores in development, which would allow Whole Foods to open 30 or more stores each year.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The news comes amid a time when its parent company, Amazon, has been cutting costs, including cutting 27,000 jobs across its own organization. 

CEO Andy Jassy previously said that the company's cost-cutting measures are part of this year's planning cycle, which will enable the company "to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole." 

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.