América Retail | Homepage
Sunday, February 19, 2017

La primera comunidad del retail en Latinoamérica

USA: Giant Eagle cutting costs, offering hundreds of buyouts

USA: Giant Eagle cutting costs, offering hundreds of buyouts

octubre 19, 2016

👤Periodista: María Alejandra Lopez 🕔19.Oct 2016

 

The Giant Eagle supermarket chain is offering buyouts to about 1 percent of its 34,000 corporate employees, or roughly 340 workers.

The company, based in the Pittsburgh suburb of O’Hara Township, announced Monday that it’s cutting costs because of falling grocery prices, and analysts contend the company is also dealing with increased competition from discount grocers like Aldi.

Also Read: M&M’s is debuting a new kind of candy

“It’s all about the money and trying to keep the company profitable,” said Milwaukee-based analyst David Livingston. “These are employees up in age. They’re ready for retirement. It’s a cost-saving move.”

The chain owns or operates more than 420 supermarkets and GetGo convenience stores and other outlets in Pennsylvania, Ohio, West Virginia and Maryland.

The buyouts don’t affect store employees like cashiers and baggers but are limited to corporate employees.

“The company has realized a need to maximize cost efficiencies, reduce overhead costs and streamline our supply chain,” company spokesman Dan Donovan said, adding that the decision is driven by various factors including “deflationary trends in food pricing.”

Supermarket chains have also been struggling to compete with online grocery delivery services and the cheaper prices offered by no-frills Aldi stores and other discounters.

Also Read: Walmart launches a free streaming service, Vudu Movies

The federal Bureau of Labor Statistics said food-at-home prices have declined nearly 2 percent in the last year, with most of that fueled by prices for meats, poultry, fish and eggs.

Other grocery chains have been repositioning themselves in the market recently, including Minneapolis-based Supervalu Inc., which said Monday it’s selling its Save-A-Lot business to Onex Corp. of Canada for $1.37 billion.

Source: WTAE

Articulos relacionados

USA: Under Armour’s CEO bought a full page newspaper ad

USA: Under Armour’s CEO bought a full page newspaper ad

febrero 17, 2017

  Under Armour CEO Kevin Plank is stepping up the effort to distance himself from comments he made

USA: Trian’s P&G stake raises investor hopes of break-up, cost cuts

USA: Trian’s P&G stake raises investor hopes of break-up, cost cuts

febrero 17, 2017

  Procter & Gamble Co (PG.N), maker of Tide detergent and Gillette razors, will face ever

USA: Trump promueve su plan fiscal ante directores minoristas

USA: Trump promueve su plan fiscal ante directores minoristas

febrero 17, 2017

  El presidente Donald Trump se reunió el miércoles con los directores de grandes cadenas minoristas

USA: 7-Eleven catching up fast in boosting the customer experience

USA: 7-Eleven catching up fast in boosting the customer experience

febrero 17, 2017

  7-Eleven hasn't been a major force when it comes to digital innovation but it's working

USA: People are threatening to boycott Wegmans for selling Eric Trump’s wine

USA: People are threatening to boycott Wegmans for selling Eric Trump’s wine

febrero 17, 2017

  Customers are threatening to boycott the iconic grocery chain Wegmans for selling Trump Winery products. The

Últimas Noticias

USA: Amazon has a bra plan
febrero 13, 2017

USA: IPhones Made In India
febrero 6, 2017

Newsletter

SECTIONS

América Retail