The popular British bakery chain Greggs has announced plans to close four of its UK factories, a restructuring move that could lead to approximately 740 job losses over the next two and a half years. The company stated it is currently consulting with staff regarding the closures.
Greggs described the decision as essential for delivering future growth in the “most cost-efficient manner.” While the chain reported a 7.7% rise in sales, it argued that consolidating its manufacturing footprint is necessary for long-term viability.
The initial costs associated with the closures, including redundancy payments and disruption expenses, are estimated at £60 million. However, the company projects that the changes will generate annual savings of £20 million by 2028.
Honestly, I just want my sausage roll! As long as the shops stay open, the rest is business for them.
Another massive corporation choosing profit over people. We need stronger protections for workers in these situations.
Will the remaining factories be able to handle the increased production load, or will we start seeing supply issues soon?
I thought Greggs was thriving? A 7.7% sales hike and they’re cutting jobs? The math doesn’t quite add up for me.
Seventeen years serving customers and now this. I feel terrible for the staff affected by these sudden closures.