Wednesday, October 7, 2015

Whole Foods to layoff 1,500 employees

Whole Foods said last week it would eliminate 1,500 jobs, or 1.6% of its workforce, as part of a commitment to invest in technology and lower prices. The company anticipates that many of the reductions would come from natural attrition, and that it expects other affected employees to find jobs elsewhere within the company via open positions or in new stores.

Whole Foods says it added about 9,000 jobs in the past year. An analyst from RBC Capital said the company's selling, general and administrative expenses are currently well above peers like Kroger and Sprouts.

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