October 16, 2012 / 1:27 PM / 5 years ago

Loblaw to cut about 700 head office, administrative jobs

Oct 16 (Reuters) - Loblaw Cos Ltd, Canada’s largest grocer, said on Tuesday that it planned to cut about 700 head office and administrative jobs over the next three weeks in a move aimed at reducing costs.

The cuts, which will be primarily in management and administrative ranks, will result in a one-time charge of about C$60 million ($61.2 million) in the fourth quarter, the company said in a statement.

Loblaw and other Canadian grocers face increasing competition as Wal-Mart Stores Inc boosts its food offerings in the country ahead of the 2013 arrival of U.S. discount retailer Target Corp.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below