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Greggs to cut more than 800 jobs as coronavirus lockdown hits business

Greggs to cut more than 800 jobs as coronavirus lockdown hits business

Business
Greggs has announced plans to cut more than 800 jobs as a result of the ongoing coronavirus pandemic.The boss warned that the bakery chain "will not be profitable as a business" if sales continue at the rates they have been in lockdown. In a statement posted on its employee information website earlier this week, chief executive Roger Whiteside said: "COVID trading conditions have forced this action onto our business and we are all very saddened by the need to part company with around 820 friends and colleagues, many of whom have worked with us for many years."He went on to say that "the battle with COVID hasn't gone away and is intensifying further" as lockdown measures continue to be in place across the UK. Mr Whiteside added: "At lockdown levels of sales, even after all of the mitigating...
Greggs warns of tough times for ‘foreseeable future’ as it plans cuts

Greggs warns of tough times for ‘foreseeable future’ as it plans cuts

Business
Greggs has warned that trading will remain "below normal for the foreseeable future" as it plans cost-cutting measures that could see jobs go.The high street bakery chain said sales were recovering but were still almost 25% below last year's levels in recent weeks, following an even tougher August. Live updates on coronavirus from UK and around world 'Majority of Gr...
Greggs to pay staff £7m after ‘exceptional’ year boosted by vegan range

Greggs to pay staff £7m after ‘exceptional’ year boosted by vegan range

Business
Bakery chain Greggs is to pay out an employee bonus totalling £7m after a "phenomenal" year during which its sales have been boosted by new vegan ranges.The payment at the end of January, which will see thousands of workers each receive £300, was announced as the company's latest trading update saw it upgrade full-year profit expectations. However, there was a warning that the company faced "headwinds" in the year ahead from national living wage increases and the rising cost of pork.Greggs, which has more than 2,000 shops across the UK and employs about 25,000 people, said like-for-like sales in company-managed stores rose by 9.2% in the year to 28 December. Image: Greggs has more than 2,000 stores across the UK That included an 8.7%