// Iceland launches a management structure review, putting jobs at risk
// The retailer denied that job losses will take place
// Iceland’s move follows the likes of Asda, Sainsbury’s and Morrisons
Iceland has launched a review of its management structure, in a move that could see “hundreds” of jobs axed.
The review has reportedly started, with a formal consultation process expected to be launched within weeks.
The frozen food retailer denied any plans for “major reductions” across its 25,000-strong UK workforce.
READ MORE:
- New Look & Iceland shareholder Brait mulls financial restructuring
- Iceland suppliers’ insurance cover cut amid Brexit concerns
Iceland’s move follows the likes of Asda, Sainsbury’s and Morrisons, revealing restructuring plans since the turn of the year as a result of increased rents, shift to online and pressure from the German discounters Aldi and Lidl.
Last week, Sainsbury’s chief executive Mike Coupe resigned after six years in the role as the Big 4 grocer embarked on another round of job cuts at its head office.
Morrisons is poised to cut 3000 department manager jobs across its stores and replace them with 7000 new hourly-paid roles.
Meanwhile, to add to Iceland’s woes, it is grappling with a £736 million debt pile after a year that saw it inject cash into its The Food Warehouse fascia.
However, Iceland maintained that shop-floor staff will not be affected by the review.
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7 Comments. Leave new
£736 million of debt on this one facia is a massive amount, if I go by my local warehouse the standard is not that good also most of the fresh/chilled food has disappeared.
I do hope any possible losses are kept to a minimum as it is a good company to work for.
Dear sir madam are h closing any shops
Still paying for all their managers to go to Las Vegas for a few nights in October though. Bet they keep that quiet.
There’s a lot of managers (including me) that don’t want to go. My son’s birthday falls in those few days. But we’ve been told it’s a “business conference” and all managers are to attend.
It was the same when we went to Florida years ago, it caused a massive issue at home for a long time. I suspect your area manager doesn’t want the embarrassing situation of having to tell his boss you don’t want to go.
I do hope you don’t go down the root of some banks.closing branches leaving small towns without a branch.
One store doesn’t represent the whole company try visiting a few then see what you think and yes Food Warehouse is a good company to work for