U.S.: Kroger cuts hundreds of jobs amid turnaround concerns - FreshFruitPortal.com

U.S.: Kroger cuts hundreds of jobs amid turnaround concerns

U.S. retail Kroger is reportedly cutting hundreds of jobs in store divisions nationwide amid concerns over the company's ability to hit profit targets.

Managers in the Cincinnati/Dayton division have already been let go, according to local media WLWT Cincinnati.

“As part of ongoing talent management, many store operating divisions are evaluating middle management roles and team structures with an eye toward keeping resources close to the customer,” a Kroger spokesperson was quoted as saying in a statement.

“Store divisions operate independently but all of them are taking steps to ensure they have the right talent in the right store leadership positions.”

The company reportedly did not say exactly how many job cuts were anticipated. Kroger had nearly 500,000 full-time and part-time employees across its stores as of fiscal 2018.

The retailer has been facing tough competition from the likes of Walmart, Albertsons and other rivals.

Kroger CEO Rodney McMullen told analysts last month that the company was not “reconfirming” its three-year projection of US$400m in incremental operating profit.