Loblaw Companies says it is eliminating 500 office-based jobs, laying off various executives and members of management.
The company tells NEWSTALK 1010 that this is "part of a broad cost-control effort."
Loblaw, which is headquartered in Brampton, is a Canadian food and pharmacy retailer, employing close to 200,000 people, according to their website. The company owns Loblaws stores, Shopper's Drug Mart, No Frills, and Joe Fresh.
"It's absolutely a difficult day," Kevin Groh, VP of Corporate Affairs, tells NEWSTALK 1010. "We want to ensure the process is respectful. That they're provided strong supports, severance, and opportunities for continued employment where possible."
Groh says the layoffs will have no effect on hourly store jobs.
"To invest meaningfully in growing areas of our business means saving meaningfully in others," Groh says.