United Natural Foods down on plan to consolidate operating regions, cut jobs

United Natural Foods

13/06/2023 22:20

** Shares of grocery wholesaler United Natural Foods
 UNFI.N  down 2.7% at $21.05 in extended trading
    ** Co says it will eliminate about 150 roles as part of its
restructuring effort aimed at consolidating from four operating
regions to three
    ** Adds layoffs will primarily affect those in management or
supervisory positions 
    ** Also says the initiative is to enhance profitability,
speedy decision-making and reduce administrative layers
    ** UNFI adds the three new regions will be called East,
Central and West
    ** As of July 30, 2022, UNFI had about 30,300 full and
part-time employees within continuing operations
    ** Up to today's close, stock had fallen over 44% so far in
2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))