Sainsbury's becomes latest retailer to cut hundreds of jobs in major restructure
Sainsbury's has become the latest retailer to announce hundreds of jobs are at risk as part of a restructure.
The retailer – which employs around 140,000 people – could cut up to 300 jobs across Sainsbury's and Argos.
Most of the cuts will affect its technology and data teams, as it restructures the unit into one dedicated team for Argos and two for Sainsbury's.
It will also make changes to its store leadership, creating four new regional roles for its convenience stores.
It comes in the third year of Sainsbury's restructure, which it announced in February 2024 with plans to target £1billion in cost savings.
Sainsbury's says 300 jobs are at risk as part of its restructuring strategy
While Sainsbury's reported strong Christmas sales, it faces stiff competition and performance in general merchandise and clothing was less encouraging, falling 1 per cent over the period.
Last year, the Sainsbury's boss Simon Roberts flagged business rates and National Insurance rises as threats to jobs.
There'll also be sweeping changes at Argos, which has struggled in recent years as cheaper online alternatives tempt customers away from the high street.
In its latest results, sales at the retailer fell 2.2 per cent over the festive period, raising further questions as to whether it should be sold.
Today, Sainsbury's said it will create a dedicated board for Argos, which reflects the 'scale of the opportunity'.
A spokesman for Sainsbury's, said: 'As we gear up for year three of our next level plan, we're strengthening our focus behind both Sainsbury's and Argos.
'By maximising the power of our data and technology, we're freeing up our teams to concentrate on what matters most - delivering great food, brilliant service and fantastic value for our customers.'
The news comes just hours after Ocado announced 1,000 jobs will be slashed as part of a £150million cost-cutting drive.
Around 5 per cent of its global workforce is being cut, with two-thirds of redundancies to take place in the UK - mostly at its headquarters in Hatfield, Hertfordshire.
Investors are losing patience with the group as new openings with existing partners and further technology deals have failed to materialise.
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