Organic-ish grocery chain and asparagus-water superstore Whole Foods announced today that it plans to slash 1,500 jobs over the next eight weeks in the hopes of lowering prices and keeping up with increased competition. That number represents 1.6 percent of the company’s workforce, though Whole Foods is downplaying the reductions by saying it has added 9,500 jobs in the last year alone, and that affected employees will be able to find jobs among the 2,000 other positions currently available at the company or new jobs that will be created at 100 in-development stores.
Still, the timing isn’t great for the cuts, which arrive after the news that sales growth slipped significantly following a New York City investigation into routine overcharging, and that the company has downgraded growth expectations for the entire fiscal year. Meanwhile, Whole Foods is also gearing up to launch its more affordable 365 chain of stores, with the first location set to open next year in L.A.’s Silver Lake neighborhood.
[ABC News]
