Online food shopping giant Ocado said is looking to axe around 1,000 jobs across its UK and worldwide workforce in a major restructure.
The major changes are proposed in an attempt to reduce costs by about £150million to become cash flow positive in 2026.
Ocado runs its own UK online grocery business through a joint venture with Marks & Spencer. In positive news for the company, the grocery delivery service reported a 59% jump in underlying earnings for its 2024/25 year.
The group confirmed around 5% of its global workforce is being cut, with about two thirds of the job losses impacting its UK operations.
(Image: AFP via Getty Images)
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Most of the UK cuts will affect staff at the firm’s headquarters in Hatfield, Hertfordshire.
The business, which runs robotic warehouses for supermarket chains, said it plans to scale back research and development (R&D), helping it trim around £150 million in technology and support costs in 2026.
The group also said it will restructure its commercial, support and R&D operations, which will see Ocado Solutions and Ocado Intelligent Automation merged into a single division.
(Image: PA Wire/PA Images)
Ocado chief executive Tim Steiner said: “Regrettably, this means a significant number of roles will no longer be required.
“We are grateful to colleagues who are affected by these changes, and whose talent and hard work have made a lasting contribution to Ocado.
“We will support those impacted through this process.”
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