SUPERVALU Announces Companywide Workforce Reduction
02/07/2012 – MINNEAPOLIS (Business Wire) – 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 eligibility guidelines.
“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 customers.”
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.
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