"Up to 5 per cent of the group's global workforce could be affected, according to people familiar with the discussions, although talks remain at an early stage and no final decision has been taken. An announcement could come as soon as this month. The majority of redundancies are expected to fall at Ocado's UK head office, with technology roles likely to be among those affected alongside back-office functions such as legal, finance and human resources."
"Founded in 2000 by three former Goldman Sachs bankers, Ocado has built its business around selling robot-operated warehouse systems to global grocery chains, alongside its online grocery joint venture with Marks & Spencer. However, investor confidence has been shaken after two major North American partners announced plans to close a number of Ocado's automated warehouses, known as customer fulfilment centres (CFCs), citing concerns over costs and efficiency."
Up to 1,000 jobs could be cut, potentially affecting about 5% of the global workforce, with an announcement possible this month. Talks are at an early stage and no final decision has been taken. Most redundancies are expected at Ocado's UK head office and are likely to include technology roles and back-office functions such as legal, finance and human resources. The proposed cuts come ahead of full-year results on 26 February and follow a push to achieve positive cashflow next financial year with strict cost and capital discipline. Investor confidence has been hit after North American partners announced closures of customer fulfilment centres; shares have fallen by almost a third.
Read at Business Matters
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