Whole Foods is cutting 1500 jobs

Whole Foods is cutting 1500 jobs photo Whole Foods is cutting 1500 jobs

Grocery chain Whole Foods is cutting about 1,500 jobs nationwide, or 1.6 percent of its workforce, despite a recent expansion in Northeast Ohio.



Whole Foods said numerous jobs will be managed through attrition and expects a significant number of affected employees may find jobs from the almost 2,000 open positions created from the more than 100 new stores in development.

“We believe this is an important step to evolve Whole Foods Market in a rapidly changing marketplace”, said Walter Robb, the co-CEO of Whole Foods Market.

Earlier this year, the company was dogged by allegations it was systematically overcharging customers, which comes at a time the company is also working to shed its “whole paycheck” image as an upscale, prohibitively expensive grocery store.

This announcement comes during what has been simply a bad year for the company, which has seen its shares decline by more than 35%.

Whole Foods Market has faced scrutiny over its prices, which were found to be too high for prepackaged foods by the New York Department of Consumer Affairs in June, Reuters reports. The two deny that accusation though and said that any mislabeling was “unintentional”.

Whole Foods has had a series of disappointing quarterly results this year, and its stock has plummeted more than 40% within the last six months. Turns out the product was a mistake.

Whole Foods also has Northeast Ohio locations in Woodmere on Chagrin Boulevard, and in University Heights on Cedar Road. Whole Foods said in May that it’s gearing up to open a new, lower-cost chain of stores next year aimed at younger shoppers.

The company’s shares were down 0.5% at $30.96 in low volumes in premarket trading on Monday.

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