Asda cuts 300 jobs to keep falling sales under check
UK supermarket retailer Asda has cut around 300 jobs as part of a strategy aimed at keeping declining sales in check.
The cost-cutting measure has affected employees at the company’s headquarters in Leeds, West Yorkshire, and its Leicester location.
Currently facing stiff competition in the country, the retailer also made amended the job descriptions of 800 roles.
The cuts account for more than 10% of the retailer’s 2,500 head office employees.
An Asda spokesperson was quoted by media sources as saying: “The changes are in response to the ever-changing sector in which we’re working and the need to adapt to create an agile business which is fit for the future.
"In recent years, the competitive landscape in retail has changed significantly and Asda has been no different.”
As of last December, the company’s like-for-like sales dropped by 5.7%, while its operating profit declined by 11.5%.
For the first quarter of the current year, the company's like-for-like sales decreased by 2.8%, while for the three months ended June, it registered sales growth of 1.8%.
Owned by Walmart, Asda operates a network of stores and online services, including supercentres, superstores, supermarkets, Living stores, petrol filling stations and depots across the UK.