Woolworths to axe 400 jobs
Retail giant Woolworths will shed an extra 400 jobs as it looks to save $500 million in costs.
Woolworths chief executive Grant O’Brien told investors on Wednesday that the company has already axed about 400 full-time positions from its back office operations.
Now a further 400 positions will be cut as the retailer accelerates its `Lean Retail’ model designed to save $500 million in costs during the 2015/16 financial year.
“We will reduce further non-customer facing roles by a further 400 positions by the end of the first half of FY16 as we continue to identify process improvements,” Mr O’Brien said on Wednesday.
Topics: Woolworths
Finance News
RBA mulls inflation as rate cuts put on hold
Finance News
Rivals offer jobs hope for Bonza workers
Finance News
Regional residents worse off if Bonza folds
Finance News
Tax return delay warning amid ATO expenses focus
Finance News
Woodside shareholders reject climate plan
Finance News
SA tops states’ economic leaderboard again
Finance News
Woolworths faces court over $1m pay bungle
Finance News