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Whole Foods cutting jobs, investing in tech

Monday, September 28, 2015 - 00:51

The reductions come as the retailer is trying to shed its ''Whole Paycheck'' nickname and fend off competition. Shartia Brantley reports.

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Whole Foods Market is cutting about 1,500 jobs over the next eight weeks and shifting money toward technology upgrades. On the chopping block - back of the store jobs - about 1.6 percent of Whole Foods workforce. The reductions come as the retailer is trying to shed its "Whole Paycheck" nickname and reputation for high prices. It's opening a new chain of smaller, more value-focused shops next year. It's also trying to fend off growing competition from specialty and mainstream shops. But competition is not its only problem. The New York Department of Consumer Affairs is investigating Whole Foods after finding that it overcharged for some prepackaged foods at nine of its New York City stores. Whole Foods stock was down on Monday.

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Whole Foods cutting jobs, investing in tech

Monday, September 28, 2015 - 00:51