By Sam Silverstein
Source: Grocery Dive
When Albertsons’ plan to merge with Kroger imploded spectacularly at the end of last year, analysts were quick to point out that the supermarket operator was up against the clock as it worked to regain its footing.
Albertsons seems to have felt the same way.
Days after former Albertsons CEO Vivek Sankaran declared during a Jan. 8 earnings call that Albertsons had to speed up its growth to keep pace with “the very, very best in the industry,” the company revealed that it was cutting an undisclosed number of corporate jobs. Albertsons also said early this year that more than 150 corporate workers at its marquee Safeway banner would lose their jobs as the company looked to cut costs. The company said in February that it was streamlining its divisional structure to “operate in new and innovative ways,” setting the stage for its March 3 announcement that Sankaran was retiring and would be replaced as Albertsons’ chief executive by Susan Morris, who had served as COO since 2018.
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