Woolworths has announced plans to offshore hundreds of corporate jobs in a bid to slash costs and remain competitive.
Woolworths announces plans to offshore hundreds of corporate jobs in bid to slash costs and compete with rivals Woolworths has announced plans to offshore hundreds of corporate jobs in a bid to slash costs and compete with rivals.
Woolworths has announced plans to offshore hundreds of corporate jobs in a bid to slash costs and remain competitive. The cuts by the supermarket giant will affect some of its 10,000-strong workforce in finance, human resources and IT. Consultations over the proposed move were due to begin on Wednesday morning, but it is not yet known how many jobs will be impacted.
It comes as years of financial pressure continue to take a toll on Australian households, with brands forced to compete fiercely against their rivals for market share. Woolworths has announced plans to offshore hundreds of corporate jobs in a bid to slash costs. Picture: Brendon Thorne / Getty Images A Woolworths spokesperson confirmed the cuts, but declined to specify how many workers would be affected.
"Our customers are telling us they need more help managing their budgets as growing inflationary pressures impact the cost of living," they told the Australian Financial Review. "To continue our commitment to deliver the dependable low prices and better shopping experiences our customers expect, and to remain competitive with the rapid expansion of international players in the market, we are continuing to transform our business.
Woolworths warned prices would rise for up to 12 months due to the fuel crisisBosses told investors the outlook was"more uncertain" and said the company's earnings would not fall within the upper end of its forecast. The supermarket giant said this was due to the fuel crisis weighing on its profits, alongside a plan to freeze prices on 300 items for three months from the beginning of May.
Meanwhile, the Australian banking sector has been reckoning with a wave of job cuts and offshoring over the past 12 months. , shifting some roles to India and Vietnam. ANZ slashed dozens of jobs at its subsidiary Suncorp in January, in a move that incensed the Finance Sector Union. NAB previously announced 410 redundancies, while Bendigo Bank axed 158 jobs, the Bank of Queensland cut 200 roles, and the Commonwealth Bank of Australia offshored roles overseas.
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