Company to remove approximately 800 positions from its corporate and
MINNEAPOLIS--(BUSINESS WIRE)--Feb. 7, 2012--
SUPERVALU INC. (NYSE: SVU) today announced plans to reduce its national
workforce by an estimated 800 positions. A majority of these reductions
will take place by the close of the company’s fiscal year on February
25, 2012. The reductions include both current positions and open jobs
that will not be filled.
This announcement continues SUPERVALU’s strategic plan to remove
permanent expenses from its business as well as reduce overall operating
costs, efforts which are necessary in helping the company achieve its
plan to deliver more competitive pricing to its customers. The
announcement affects all company offices and crosses most departments
within the organization. In general, store level associates are not
affected by this announcement. Associates whose positions are eliminated
will be eligible for severance and outplacement services based on our
“These reductions are necessary to help further strengthen and
accelerate SUPERVALU’s business turnaround in a very competitive
marketplace,” said Craig Herkert, SUPERVALU’s chief executive officer
and president. “While the announcement of a workforce reduction is
difficult news to share, due to its direct impact on our associates,
these changes will allow us to better connect with customers and put
more authority in the hands of people who interact more closely with our
SUPERVALU introduced its strategic vision a little over a year ago that
focuses heavily on improving its retail business through planned price
reductions and an emphasis on hyperlocal retailing at its more than
1,100 traditional retail stores across the country. In addition, the
company remains focused on investing capital into the growth of
Save-A-Lot, its national, hard discount grocery store chain, as well as
continuing to expand its wholesale distribution business to its more
than 2,000 independent retailers nationwide.
About SUPERVALU INC.
SUPERVALU INC. is one of the largest
companies in the U.S. grocery channel with annual sales of approximately
$37 billion. SUPERVALU serves customers across the United States through
a network of approximately 4,300 stores composed of 1,104 traditional
retail stores, including 798 in-store pharmacies; 1,309 hard-discount
stores, of which 922 are operated by licensee owners; and 1,900
independent stores serviced primarily by the company’s traditional food
distribution business. SUPERVALU has approximately 135,000 employees.
For more information about SUPERVALU visit www.supervalu.com.
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Source: SUPERVALU INC.