Kroger Axes 1,000 Corporate Jobs After Albertsons Deal Collapse

Kroger Co. said it is eliminating roughly 1,000 corporate positions as the grocer trims costs and reorganises following the collapse of its proposed acquisition of Albertsons Cos. Interim Chief Executive Officer Ron Sargent told employees in a 26 August memo that the restructuring will affect teams across the United States and is aimed at "simplifying the business" after regulators blocked the $24.6 billion deal earlier this year. Sargent added that savings from the cuts will be redirected to reduce prices, open additional stores and create more jobs at the store level. Kroger employed about 409,000 people as of February, the vast majority in retail locations, though the company has not disclosed the size of its corporate workforce. The Cincinnati-based grocer has also said it will close around 60 underperforming stores over the next 18 months as part of its broader turnaround strategy.