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Report: Sainsbury's to cut more than 1,000 head-office jobs

U.K. supermarket operator J Sainsbury Plc is looking to cut more than 1,000 head-office jobs as part of a plan to reduce costs by £500 million, The Telegraph reported Aug. 5.

The London-based company appointed management consulting firm McKinsey & Co. to handle the matter, with the exact number of staff reductions likely to be revealed in September, according to the report.

Sainsbury's has 3,000 job positions outside its stores, including at the Holborn head office in London.

When contacted by S&P Global Market Intelligence, a Sainsbury's spokesperson said: "We do not comment on speculation and would always make any announcement around jobs to our colleagues first."

Sainsbury's announced its current cost-cutting plan in November 2016, which aims to save another £500 million over three years from the fiscal year starting April 2018 following a three-year plan to reduce £500 million in costs by the fiscal year ending March 2018.

In March, the company said it was cutting 400 jobs and changing the hours of another 4,000 staff as part of an overhaul of night-shift work at 140 stores.