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TheStreet Open House

SHAW’S Announces Workforce Reduction

Stock quotes in this article: SVU

SHAW’S Supermarkets®, a subsidiary of SUPERVALU INC. (NYSE: SVU), today announced plans to reduce its store-level workforce by an estimated 700 positions. These reductions, which will occur across 169 SHAW’S and STAR MARKET stores in New England, will be finalized by November 3.

“A decision of this nature is never easy, but after careful evaluation, it is unfortunately the necessary step for us to take to help improve our business, reduce expenses and reinvest in more customer-facing initiatives,” said Mike Stigers, president, SHAW’S. “As we continue to look at the best ways to achieve success, we recognized an opportunity to align our workforce to more effectively serve the marketplace by scheduling team members more appropriately to serve customers at the times they shop. These changes will help us to compete more effectively in a rapidly changing marketplace.”

Approximately 90 associates impacted by the layoffs have already been informed of their status and the remaining will be informed during the next several days. This announcement does not impact SHAW’S overall commitment to the communities it serves. The company remains focused on driving sales through a solid plan of lowering prices, investing in the customer experience, and implementing programs designed to attract new customers to the stores.

Stigers concluded, “SHAW’S is committed to providing our customers in every neighborhood we serve with a superior grocery shopping experience enhanced by local expertise, national strength and a passion for our team members. Today’s announcement will not affect this commitment in any way.”

About SHAW’S SupermarketsSHAW’S, Osco and Star Market are part of the nationwide SUPERVALU® INC. (NYSE: SVU) family of grocery stores. SHAW’S is one of the oldest continuously operated supermarkets in the United States with its roots dating to 1860. Throughout five New England states, there are 169 store locations employing approximately 17,000 associates. For more information about SHAW’S, visit the all-new web site at: www.shaws.com.

Copyright Business Wire 2010

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