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Ocado May Cut Up to 1,000 Jobs in Cost-Cutting Drive
U.K. Company Last Year Cut Back on Kroger Partnership
Ocado Group Plc is planning to slash a significant number of jobs as the U.K.-based grocery technology firm renews efforts to cut costs, the Times newspaper reported.
The redundancies could impact as many as 1,000 jobs, or roughly 5% of the company’s global head count, the newspaper said, adding that a final decision hasn’t been made. Ìý
The majority of the cuts are expected to be in Ocado’s U.K. head office, a person with knowledge of the matter told the Times. Ìý
Ocado in December said it would receive a one-time cash payment of $350 million from Kroger Co., more than previously announced, after the U.S. grocer decided toÌýclose three automated warehousesÌýand scaled back plans for a wider rollout.
