Pick n Pay on Monday said it planned to cut 10% of its staff, which would see about 3 500 jobs eliminated by the country’s second-biggest supermarket chain.
The grocer, which employs about 35 000 people, said the cost of the retrenchments would weigh on its profits in the six months to end of August, Reuters reported.
“The voluntary severance programme is one of several steps we have taken to make our business more competitive in what is a tough trading environment. For reasons of timing, it will have a material impact on our result,” chief executive Richard Brasher said.
ALSO READ:
//