"Ocado has announced plans to reduce costs by around £150 million as part of its latest restructuring effort. Following its latest financial results, Ocado confirmed that about 5% of its global workforce is being cut, with approximately two-thirds of the job losses impacting its UK operations, including staff at its headquarters in Hatfield, Hertfordshire. This restructuring aims to optimize operations and ensure long-term sustainability amid market challenges."
"The group is set to restructure its commercial, support, and R&D operations by merging Ocado Solutions and Ocado Intelligent Automation into a single division. This move aims to streamline operations and strengthen long-term growth prospects, helping stakeholders feel more confident about Ocado's future."
"Ocado chief executive Tim Steiner said: 'Regrettably, this means a significant number of roles will no longer be required. We are grateful to colleagues who are affected by these changes, and whose talent and hard work have made a lasting contribution to Ocado. We will support those impacted through this process.'"
Ocado announced a major restructuring involving the elimination of around 1,000 jobs globally, representing approximately 5% of its workforce. About two-thirds of these cuts will impact UK operations, particularly at the company's Hatfield headquarters. The restructuring aims to reduce costs by £150 million and optimize operations for long-term sustainability. The company plans to scale back research and development activities and merge Ocado Solutions and Ocado Intelligent Automation into a single division to streamline operations. Despite the job cuts, Ocado posted a 59% boost in underlying earnings in its 2024/2025 financial results. The company has committed to supporting affected employees through retraining and job placement assistance.
Read at London Business News | Londonlovesbusiness.com
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