Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Whole Foods To Slash 1,500 Jobs

Published 09/28/2015, 08:54 AM
Updated 09/28/2015, 09:31 AM
© Reuters. It's been a rough year for the Texas-based grocer, who announced Monday that they will cut 1,500 jobs.

By Cole Stangler -

Whole Foods Market Inc. (NASDAQ:WFM) plans to cut 1,500 jobs over the next eight weeks. In a Monday filing with the U.S. Securities and Exchange Commission, the green-friendly grocer said the move is "part of its ongoing commitment to lower prices for its customers and invest in technology upgrades while improving its cost structure."

The cuts, which cover 1.6 percent of the company's workforce, come at a rough time for the Texas-based retailer. Earlier this year, Whole Foods was accused of routinely overcharging customers. Since then, sales have failed to meet expectations. In the last year, the company's stock has slipped by more than 35 percent.

Whole Foods Market Inc. (WFM) | FindTheCompany

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.