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LBLCF Loblaw Companies Ltd (PK)

118.2499
0.00 (0.00%)
07 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Loblaw Companies Ltd (PK) USOTC:LBLCF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 118.2499 100.47 129.12 57 21:55:01

Loblaw Cuts 275 Management, Administrative Jobs

16/10/2013 8:06pm

Dow Jones News


Loblaw Companies (PK) (USOTC:LBLCF)
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       By Karen Johnson 
 

TORONTO--Loblaw Cos. (L.T) said Wednesday it has slashed 275 management and administrative jobs, as the grocery giant seeks an edge in the increasingly competitive Canadian market.

More than 200 of the jobs were trimmed from its Brampton, Ontario head office, the company said.

"We are streamlining our organization to strengthen our competitive position," Loblaw spokesman Robert Chant said in an email. He said the move comes as Canada's leading grocer seeks to become "a more agile company better prepared to compete in the marketplace."

Mr. Chant said the job cuts, which come a year after 700 head office employees were laid off, is unrelated to the company's agreement to buy Shoppers Drug Mart Corp. (SC.T) for 12.4 billion Canadian dollars ($12 billion). That deal, announced this summer, will give the 95-year-old Loblaw a greatly expanded footprint, and a heavier presence in coveted urban markets.

Canadian grocers have been jostling for position, competing against each other and vying for shoppers' attention as U.S. discount giant Target Corp. (TGT) opens its first stores across Canada.

Write to Karen Johnson at karen.johnson@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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