TORONTO, ON – One of Canada’s largest retailers, Loblaw Co Ltd, is making strategic moves to streamline its operations and focus its efforts on e-commerce. The company has announced plans to funnel and reinvest finances into digital and e-commerce services, according to a Reuters report.
“The future is digital, and that’s not lost on us, the need to make significant investment in omni-channel and e-commerce,” Reuters quoted Kevin Groh, Vice President, Corporate Affairs and Communication, as saying.
To bolster the strategy, the retailer reportedly began trimming jobs across the company yesterday. When complete, it will have done away with approximately 0.25 percent of the Toronto-based company’s workforce, or roughly 500 positions.
Groh said cuts will effect executive- and management-level positions, and will not affect store-level employees.
The Canadian retail landscape has announced a slew of shifts. Loblaw’s streamlining efforts come soon after Sobeys, too, announced it will continue to streamline its executive positions in order to limit costs and grow its bottom line. Metro Inc. also revealed earlier this month that it had reached a deal to acquire drug store chain Jean Coutu and invest $400 Million in expanding and improving the company’s Ontario distribution network over the next five years.
Will a refocused Loblaw with e-commerce as a priority be more nimble and competitive in this increasingly-competitive retail market? AndNowUKnow will continue to report.
