Ocado to axe ‘1,000’ jobs – costs cut by £150m | Personal Finance | Finance

Ocado said it is cutting up to around 1,000 jobs across its UK and worldwide workforce as it looks to reduce costs by about £150 million as part of a restructure.

The retail group, which operates warehouses for supermarkets, is expected to make the bulk of cuts in its UK head office, including technology roles and back office staff.

The redundancies will amount to 5% of the firm’s global workforce and follows plans announced last year to scale back its technology costs from £290 million in 2024 to £60 million by 2027.

A spokesperson for Ocado previously said it “regularly reviews its operations to ensure we’re set up for long-term success” and pledging to “communicate with staff directly and ensure they are supported throughout”.

As well as allowing retailers to pick and dispatch online food orders from giant robotic warehouses, Ocado runs an online grocery firm as a joint venture with Marks and Spencer.