Sainsbury's to cut "hundreds" of management jobs as chief executive Mike Coupe steps down
Mike Coupe has announced he is to step down as the CEO of Sainsbury's as the retailer confirmed it would be cutting hundreds of management-level jobs, including in digital and technology.
Coupe is to retire on June 1st after 15 years at the supermarket and will be replaced by retail and operations director Simon Roberts.
Sainsbury's is understood to have already cut one in five senior leadership roles since last March, with the latest planned losses part of efforts to avoid duplication of roles with Argos, who it acquired in a £1.4bn deal in 2016.
The retailer also announced a new cost-cutting strategy in September after its failed attempted merger with Asda, and has included paying off debt and the introduction of more technology.
A statement from Sainsbury's said: "Since the start of this financial year (March 2019) Sainsbury's senior leadership team has been reduced by over 20%.
"Bringing together more teams in commercial, retail, finance, digital, technology and HR will lead to a reduction of hundreds of management roles across the business."
Coupe said the restructure could ultimately lead to hundreds of job cuts, but said the company had to "adapt".
He said: "We have to adapt to continue to meet the needs of our customers now and in the future and, while change can be hard, it's also necessary.
"We have a clear purpose and a strong and compelling set of priorities that will support us to deliver for our customers.
"We already have a sense of momentum across the business and can accelerate this by streamlining our structure and responding to customer needs more quickly."