Sainsbury's planning to cut around 300 jobs in restructure

(Sharecast News) - Sainsbury's is reportedly looking to cut around 300 jobs in a restructure. According to reports on Thursday, the supermarket chain will make the cuts across Sainsbury's and Argos, with the company's technology and data teams likely to be hit the worst.

It was understood the group is looking to restructure the unit into one dedicated team for Argos and two for Sainsbury's.

According to The Grocer, it will also consolidate routine reporting tasks into a new business intelligence hub, which will allow colleagues to focus on more insight-led and commercially focused work.

The Grocer said Sainsbury's is also updating its leadership structures, by creating four new regional store director roles dedicated solely to convenience, with one in the north, one in central and two in the south.

A spokesperson for Sainsbury's said: "As we gear up for Year Three of our Next Level plan, we're strengthening our focus behind both Sainsbury's and Argos.

"By maximising the power of our data and technology, we're freeing up our teams to concentrate on what matters most - delivering great food, brilliant service and fantastic value for our customers."

Sainsbury's shares closed down 1.8% at 352p.

Also on Thursday, grocer and technology group Ocado said it would be slashing around 1,000 jobs as part of a drive to save £150m in costs after setbacks to its automated warehouse programme rollout.