Fierce competition from online and bulk-discount rivals including Amazon.com (AMZN) - Get Report and Walmart (WMT) - Get Report have spurred grocery store chain Kroger (KR) - Get Report to slash hundreds of high-level, non-unionized management jobs across the country, the company confirmed on Thursday.
Kroger officials didn't immediately specify the magnitude of the cuts, but acknowledged all 22 of its divisions in 35 states were scrutinizing management jobs under individual market presidents.
"Store operating divisions are constantly evolving to ensure they build the teams and leaders who will deliver an amazing experience for customers and associates both now and in the future," a Kroger spokeswoman said in a stament. News of the job cuts was first reported by the Cincinnati Enquirer.
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"As part of ongoing talent management, many store operating divisions are evaluating middle management roles and team structures with an eye toward keeping resources close to the customer," the spokeswoman said.
Kroger has about 450,000 employees nationwide.
Hurt by the costs of home-delivery and store-pickup technologies as well as an ongoing price war in the grocery industry, Kroger has been struggling with earnings and bottom-line profit margins, which in turn have hurt the company's stock.
Shares of Kroger were down 1.92% at $24.57 in afternoon trading on Thursday.
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