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Prices & Quotes - UK Markets - Sainsbury (J) (SBRY)

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Share Price:
Up 259.30p
Change Today:
5.40p
Market Cap:
5,799m
Sector:
Food & Drug Retailers

Up to 1,150 jobs at risk at Sainsbury's

By Abigail Townsend

Date: Thursday 04 Mar 2021

LONDON (ShareCast) - (Sharecast News) - J Sainsbury is to cut 500 office jobs, with another 650 positions also at risk, as the supermarket chain overhauls workspace and looks to boost its online offering.
The grocer, the UK's second largest after Tesco, is looking to simplify store support centre teams in a variety of departments, including commercial operations, human resources and supply chain and logistics.

In addition, it will close offices in Coventry and in Victoria, London; will vacate two of the remaining five floors it occupies at its head office in Holborn, London; and will reduce its office space by one floor in Manchester.

Staff in these offices will be moved to other locations, which are being refurbished to create "collaborative workspaces" intended to allow for more flexible working.

Simon Roberts, chief executive, said: "Our new plan puts food first and will create as simpler, nimbler and more efficient business. The money we save will enable us to invest in what customers really care about.

"I know change is difficult, but to the best job we can for our customers, it is vital that we adapt."

Sainsbury's also said that 20 stores in and around London would have their online departments expanded by March 2022, with the current online fulfilment centre in Bromley-by-Bow, east London, slated for closure, with the loss of up to 650 jobs. Sainsbury's said it hoped to redeploy most of the OFC staff in neighbouring stores.

This is the second round of job losses announced by Roberts, who took over in June last year. In November, he confirmed plans to close Argos shops and in-store meat, fish and deli counters, putting up to 3,500 positions at risk.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Sainsbury (J) Market Data

Currency UK Pounds
Price 259.30p
Change Today 5.40p
52 Week High 259.90p
52 Week Low 179.15p
Volume 5,763,159
Shares Issued 2,236.48m
Market Cap 5,799m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 7
Sell 1
Strong Sell 1
Total 15
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sainsbury (J) Dividends

  Latest Previous
  Final Special
Ex-Div 10-Jun-21 12-Nov-20
Paid 16-Jul-21 18-Dec-20
Amount 7.40p 7.30p

Trades for 12-May-2021

Time Volume / Share Price
16:45 3,563 @ 259.10p
16:45 3,563 @ 259.10p
16:35 2,798,540 @ 259.30p
16:29 1 @ 259.00p
16:29 5 @ 259.00p

Sainsbury (J) Key Personnel

CFO Kevin O'Byrne
Chair Martin Scicluna
CEO Simon Roberts