(MENAFN) Supermarket operator Supervalu announced that it will slash 3 percent of its workforce, with the move to take place at almost all of the firm's offices and across most departments, reported AP.
The announcement comes less than a week after Supervalu completed the sale of 5 of its grocery chains, therefore, the remaining business will need less corporate and store support roles and functions.
The company, which has around 35,000 workers, noted that the final working dates for employees whose positions are being reduced will differ, depending on the requirements of the business and the areas they support.
According to President and CEO, Sam Duncan, the 1,100 workers whose jobs are cut will be compensated with severance and outplacement services.
It is worth noting that Supervalu sold Albertson's, Jewel-Osco, Acme, Shaw's and Star Market to an investor group for USD100 million in cash and USD3.2 billion in existing debt.
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