Sainsbury’s to cut 3,500 jobs as it axes food counters and 120 Argos stores
Sainsbury’s has said it will cut around 3,500 jobs across its Argos stores and meat, fish and deli counters.
The supermarket said the closure of the specialist counters is part of efforts to “better reflect customer demand”. The move will save the business around £60million.
It also said roles will go with the imminent closure of 120 Argos stores - which is part of a strategy to shut 420 standalone Argos branches over the next three-and-a-half years.
The news comes as tighter coronavirus restrictions enter into force although essential stores such as supermarkets remain open to the public.
Simon Roberts, chief executive of Sainsbury’s, said: “We are talking to colleagues today about where the changes we are announcing in Argos standalone stores and food counters impact their roles.
“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.
“Right here and now, I and all the team are focused on supporting and delivering for our customers in the days and weeks ahead.”
The job losses come as more than 2,500 jobs are set to go after the John Lewis Partnership and Lloyds Banking Group both announced major cuts on Wednesday.
Sainsbury’s posted a pre-tax loss of £137 million for the year to September 19.
In April, the supermarket chain had warned over a coronavirus hit to profits of more than £500 million despite a surge in grocery sales.