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Ocado weighs up to 1,000 job cuts – report
Yahoo Finance· 2026-02-09 09:46
Group 1 - Ocado is considering cutting up to 1,000 roles, approximately 5% of its global workforce, as part of a cost-cutting initiative following a challenging year for its automated warehouse division [1][2] - Most affected positions will be at Ocado's UK head office, including technology and back-office roles in legal, finance, and human resources [2] - The company aims to become cashflow positive in the next financial year and previously announced plans to eliminate 500 technology and finance roles after 1,000 redundancies in 2023-2024 [2] Group 2 - Ocado supplies robot-operated warehouse systems to supermarket chains and operates an online grocery joint venture with Marks & Spencer [3] - Major customers in North America, such as Kroger and Sobeys, have announced closures of several customer fulfillment centers due to slower-than-expected growth [3] - Analysts caution that the expiration of mutual exclusivity agreements with retailers could complicate future partnerships, although Ocado expects to secure hundreds of millions of pounds in compensation related to warehouse closures [4] Group 3 - Ocado has remained loss-making since its launch, with annual pre-tax losses narrowing to £374.5 million ($509.88 million) from £393.6 million in 2024 [4]