American supermarket chain Whole Foods Market has announced the lay off 1,500 jobs over the next two months.
Whole Foods who has had a long history of providing good pays, stock options and health-care benefits to employees and so this news comes as surprise.
The jobs are being cut for regional and for store positions and does not impact its headquarters in Austin, Texas, reported Wall Street Journal.
The company co-Chief Executive Walter Robb was quoted by Wall Street Journal as saying: "We believe this is an important step to evolve Whole Foods Market in a rapidly changing marketplace."
"We have offered them (employees) several options including transition pay, a generous severance, or the opportunity to apply for other jobs.
"In addition, we will pay these team members in full over the next eight weeks as they decide which option to choose."
In the last few years, the firm has been facing stiff competition as traditional supermarket operators such as Kroger too have begun stocking natural and organic foods at low prices.
The layoff will help the chain to invest in technology upgrades, the company stated.
The firm also announced the opening an discount chain ‘365’ by next year to target young consumers.