Asda job losses: 2,500 staff at risk as supermarket starts consultation
Asda could cut thousands of jobs
Posted: 26 Oct 2018
Asda could be cutting as many as 2,500 jobs in 2019, and is to begin consultations with staff.
It comes amid the proposed Sainsbury's and Asda merger, which advertising watchdogs have previously warned could lead to dozens of store closures.
No details have been revealed as to where jobs could be cut, or when any redundancies would be made, but PA has reported thousands of jobs could go next year.
Sainsbury's and Asda were previously warned by the competition watchdog that nearly 500 of their supermarkets overlapped following initial investigations into the £12 billion merger.
The Competition and Markets Authority (CMA) said findings of its so-called phase one inquiry into the deal found potential competition issues for stores in 463 local areas.
It raised concerns over 225 Sainsbury's stores and 238 Asda stores.
The CMA said: "At a local level, the parties' stores overlap in several hundred local areas across the UK.
"The CMA believes that the merger may give rise to a realistic prospect of an SLC (substantial lessening of competition) in many of these local areas if Sainsbury's and Asda are insufficiently constrained by other local competitors."
Asda, which is owned by US giant Walmart, and Sainsbury's have gone on record saying suppliers will bear the brunt of a pledge to bring down the price of everyday products following their merger.
The duo last month pledged price cuts of around 10 per cent on everyday items, although it is not yet known where the price reductions will fall.