WASHINGTON (dpa-AFX) - Supermarket chain The Kroger Co. (KR) plans to eliminate approximately 3,000 corporate positions over the next three years, Bloomberg reported, citing a staff memo from Chief Executive Greg Foran.
The job cuts are intended to streamline operations, lower prices and boost investment in in-store employees. Foran reportedly said the company aims to eliminate duplicative work and adapt to technology.
The planned reductions would affect about 37% of Kroger's 8,200 corporate employees. Further details are expected to be announced in the coming months, according to the memo.
Kroger shares closed at $62.56 on Monday, up 1.49%.
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