Ocado Group is preparing to cut 1,000 jobs over the next year as it accelerates a cost-cutting drive aimed at stabilising finances and restoring investor confidence.
The reductions, equivalent to around 5 per cent of its global workforce , will fall heavily on the UK, with roughly two-thirds of the affected roles based domestically. Most of the cuts are expected at the company’s headquarters in Hatfield, Hertfordshire, and will largely impact technology and support functions.
The announcement came alongside Ocado’s full-year results, which revealed widening losses despite revenue growth.
Chief executive Tim Steiner said a “significant number” of roles would no longer be required as part of a broader restructuring to align the business with a lower cost base.
“These changes reflect the lower structural cost base that we have signalled over recent years,” Steiner said. “Regrettably, this means a significant number of roles will no longer be required. We will support those impacted through this process.”
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