Loblaws cuts 700 head office jobs

Loblaw Cos. Ltd. announced today it will cut roughly 700 administrative and management positions from its Toronto-area head offices.

The grocery chain said notices will start going out today and the process will be completed within three weeks.

"We're managing costs where it makes sense by reducing administrative expense," Loblaws president Vicente Trius said.

Trius added that the grocer will "continue to invest in driving the business forward" by spending more money to enhance the customer experience in stores.

Loblaws, headed by chairman Galen Weston Jr., says it will take a $60-million charge in the fourth quarter related to the head office job-cut move.

The company is in the middle of a multi-year plan to upgrade its technology and supply chain to compete with other big box retailers selling groceries, such as Wal-Mart.

In a release, the company noted it has opened 14 new stores over the past year, adding 2,000 new jobs in the process.

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