Shaw’s Supermarkets is cutting 700 jobs, or just under 4 percent of its employees
Shaw’s Supermarkets, a 169-store chain based in West Bridgewater, said it plans to cut 700 jobs, or just under 4 percent of its total employee headcount.
Total headcount after the reduction will be about 17,000, a company spokesman said, and there are no plans to close any stores. The company’s store count includes stores operating under the Star Market name.
About 90 employees have been informed that they’re being laid off, and the rest will be notified over the next several days, Shaw’s said in a press release.
“A decision of this nature is never easy, but after careful evaluation, it is unfortunately the necessary step for us to take to help improve our business, reduce expenses, and reinvest in more customer-facing initiatives,” Shaw’s president Mike Stigers said in a statement.
Shaw’s is a subsidiary of Supervalu Inc., a Minnesota-based company that operates a number of chains across the county.
In issuing earnings about two weeks ago, Supervalu said in a press release that second quarter net sales were $8 billion, down from $8.4 billion for the same quarter a year ago.
The net loss for the second quarter totaled $111 million, or $0.52 per diluted share, including predominantly non-cash net charges of $111 million after-tax, or $0.52 per diluted share, Supervalu said.Chris Reidy can be reached at email@example.com.