The company will look to open more than 100 more Sainsbury’s stores
Sainsbury’s have announced that it is cutting as many as 3,500 jobs, the majority of which will come from its Argos stores. 420 Argos locations will also shut.
The announcement of cuts and closures comes as the company posted half-year financial results, which revealed losses of £137 million.
The restructuring, which Sainsbury’s says will be complete by 2024, will see jobs cut at the company’s fresh food counters. By the end of the process, they expect the number of standalone Argos outlets to be roughly 100.
Sainsbury chief executive Simon Roberts said that the company would look to find alternative roles for staff where possible.
“We are talking to colleagues today about where the changes we are announcing in Argos standalone stores and food counters impact their roles,” he said.
“We will work really hard to find alternative roles for as many of these colleagues as possible and expect to be able to offer alternative roles for the majority of impacted colleagues.
“Our other brands – Argos, Habitat, Tu, Nectar and Sainsbury’s Bank – must deliver for their customers and for our shareholders in their own right.”
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