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Sainsbury's Announces Major Job Cuts Amid Rising Costs

Sainsbury's plans to cut over 3,000 jobs as part of a major restructuring to adapt to challenging economic conditions.

Overview

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UK supermarket chain Sainsbury's is set to cut 3,000 jobs and close its cafes and certain food counters in response to rising labor costs and reducing margins. The changes include a 20% cut in senior management roles, aimed at simplifying operations and making the business more efficient. Although Sainsbury's reported strong holiday sales, the CEO cited a challenging cost environment and the need for tough choices due to rising National Insurance contributions. The company plans to offer support packages to affected employees and redeploy staff where possible.

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