Whole Foods cuts 1,500 jobs
The retail chain’s chief executives sent a memo to their employees expressing their “deepest appreciation” in the midst of cutbacks.
That’s because the brand (rightfully) has a reputation for being unnecessarily costly. The brand is trying to change that perception, but the company is going to have to break a few cage-free eggs first.
Namely, Whole Foods plans to cut 1,500 jobs over the next couple of months.
Earlier this summer, in a conversation with Fortune, Whole Foods CEO John Mackey touched on the retail dilemma of trying to compete on quality, service and price. He said at the time, “We realized we needed to make Whole Foods more price-competitive and take costs out of the system.”
The company is also launching a lower-cost chain that will be called 365. Employees that are laid off will have a chance to apply for new positions within the company or receive severance packages.
Business Insider first reported on the layoffs by publishing a company memo from Mackey and his co-CEO, Walter Robb:
Dear Team Members,
Become a Ragan Insider member to read this article and all other archived content.
Sign up today
Already a member? Log in here.
Learn more about Ragan Insider.
