January 23, 2018 / 12:35 PM / 3 months ago

Sainsbury's restructures store management in cost-cutting plan

LONDON, Jan 23 (Reuters) - Sainsbury’s, Britain’s second largest supermarket group, said on Tuesday it would shake up its store management structure as it seeks to achieve targeted cost savings.

The group said the role of store manager would remain but all management roles below that would change.

It said employees whose roles disappear would be offered alternative jobs in the business but that could be a role with less status and pay.

Sainsbury’s said its intention was not to reduce overall headcount.

The firm is seeking cost savings of at least 500 million pounds ($696 million) over three years from the 2018-19 year. ($1 = 0.7183 pounds) (Reporting by James Davey; editing by Kate Holton)

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