LONDON, Feb 26 (Reuters) - Ocado, the British technology and online grocery group, plans to cut about 1,000 jobs as it targets savings of 150 million pounds ($203 million) in technology and support
Ocado to Trim About 1,000 Roles as Part of £150m Cost‑Saving Push
Ocado Restructuring and Cost Targets
LONDON, Feb 26 (Reuters) - Ocado, the British technology and online grocery group, plans to cut about 1,000 jobs as it targets savings of 150 million pounds ($203 million) in technology and support costs, its boss said on Thursday.
Scale of Job Cuts
"It's about 1,000 people, it's less than 5% of our global workforce," CEO Tim Steiner told Reuters after Ocado published full-year results.
Two-thirds in UK
R&D headcount cut
R&D and UK Impact
He said about half of the job losses are from Ocado's research and development team. Two thirds of the job losses would be in the UK.
Currency Conversion Reference
($1 = 0.7382 pounds)
Reporting Credits
(Reporting by James Davey; Editing by Kate Holton)
