Sainsbury's to cut 500 jobs in discounter price war

13th Jan 2015 15:36

Sainsbury's will slash 500 jobs from store support centres in an effort to cut costs and compete with the discounters.The supermarket's plan is to save £500m over the next three years, now that new chief executive Mike Coupe is at the helm.According to the superstore, this plan will "streamline our central divisions and bring our supermarkets and convenience businesses together".Losing 500 members of its 161,000 strong staff seems like it will be the firm's first move this year.Coupe told staff in a recent letter: "I recognise that these changes will be difficult for our colleagues and I can assure you the decision to make them was not taken lightly.""However, I'm certain that we will be in a stronger position to deliver our new strategy and better equipped to win in these times of change as a result."This is the latest news in the ongoing supermarket price war that has seen the price of milk drop below bottled water in some cases.