Metcash cuts 478 jobs

 In Australia, Metcash/IGA, NewZealand

Metcash, the country’s biggest grocery wholesaler, will shed nearly 10 per cent of its workforce and take a multi-million dollar hit as it restructures its business in response to difficult trading conditions.

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The owner of Franklins, IGA and Mitre 10 stores said it would close 15 regional Campbells Cash and Carry branches, with 315 jobs to go.

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The company’s shares were down 14 cents, or 3.3 per cent, to $4.16 on their resumption of trade.

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A further 163 jobs will be cut from the company’s corporate offices. Sydney Morning Herald – Read more…
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