Sainsbury's to cut 2,000 jobs as it seeks £500m in cost savings

 
Helen Cahill
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Sainsbury's Open New Energy Efficient Store In King's Lynn
A string of retailers have announce job cuts over the past year (Source: Getty)

Sainsbury's is cutting 2,000 jobs as its seeks to remain competitive in the grocery market and find £500m in cost savings.

The supermarket has started a 45-day consultation with staff and will be making the job cuts in its human resources and support departments.

Sainsbury's is restructuring its grocery business, as well as Sainsbury's bank. Last year, the grocer said it was aiming to find £500m in savings over the next three years.

Read more: Asda income tracker: Consumer spending power fell again in August

The changes will affect those working in its HR operations in Manchester, Coventry, Edinburgh, and London.

A Sainsbury's spokesperson said: "The UK grocery market is changing at a rapid pace and it's crucial that we transform the way we operate to meet future challenges and continue to provide customers with best in class service.

"Following a comprehensive review, we are proposing some updates to our HR structures and systems, as well as changes to a number of other support roles, subject to consultation.

"This has been a difficult decision and we appreciate that this will be a tough time for those colleagues affected by the changes. We will support them in any way we can."

A string of the UK's largest retailers have been forced to cut jobs over the past year in response to structural changes in the industry. In September, Asda announced it was trimming 300 jobs in its head office, and Tesco said this summer that it would be cutting 2,300 jobs.

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