The high-end grocery store chain says it needs the cuts, in order to invest in technology upgrades and improve its cost structure.
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Whole Foods did not immediately respond to CNNMoney’s request for comment.
“This is a very hard decision, and we are committed to treating affected Team Members in a caring and respectful manner, said co-CEO of Whole Foods Market Walter Robb in a statement”. New York City’s Department of Consumer Affairs found that prices on its pre-packaged items (think vegetable platters and sushi) were illicitly hiked by as much as $6.15.
Just last Wednesday, the Rocky River Whole Foods Market opened its doors in the River Square Shopping Center on Detroit Road.
Mr. Robb added that they offered several options to the affected employees including a transition pay, generous severance, and the opportunity to apply for other jobs. Whole Foods once dominated the organic food retail industry but is, now, finding itself scrambling to compete with competitors that were not there until recently.
The Whole Foods Market in Mountain Brook.
A spokeswoman for the chain’s New England division didn’t say specifically where the positions would be cut, but said they would take place “across all markets”.
Its shares have fallen 18% in the past year as it faces increasing competition in the USA natural foods market.
But it also said some people might be able to move into new jobs at new stores. Bradford said Whole Foods is not hiring yet for that store, which will open on an unspecified date in 2016. On the other hand, the stock price can be punished when a company repeatedly fails to meet or exceed what research firms are expecting. The first location is set to open next year in Los Angeles, and leases have been signed for additional locations in Bellevue, Washington; Houston; Portland, Oregon; and Santa Monica, California.
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Whole Foods shares have dropped 35 percent in 2015.
