Greggs plans to close four UK factories, putting up to 740 jobs at risk
The bakery chain, whose sales rose 7.7%, says the closures aim to deliver growth in the most cost-efficient way, according to The Guardian.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
Bakery chain Greggs has announced plans to close four of its factories in the UK, a move that could result in up to 740 job losses over the next two and a half years, according to a report by The Guardian.
The company said it was launching a consultation process on the closures, which the report says would initially cost around 60 million pounds when accounting for disruption and redundancy payments, before generating an estimated 20 million pounds in savings each year by 2028.
Greggs framed the decision as necessary to deliver growth in what it described as the most cost-efficient manner, according to The Guardian, even as the company reported strong recent trading performance, with total sales growth accelerating to 7.7% in the third quarter.
The Guardian's report does not specify which four factories are slated for closure or their locations, nor does it detail what alternative production capacity, if any, Greggs plans to bring online to offset the closures. It also does not indicate whether staff at the affected sites would be offered redeployment to other locations within the company.
The announcement comes as Greggs continues to expand its store network and product range across the UK, illustrating a divergence between strong sales growth in its retail operations and a restructuring of its manufacturing footprint aimed at cutting costs over the medium term.
Sources
- Greggs announces plans to shut four UK factories that could cost 740 jobs — The Guardian — World
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Comments
Loading comments…
Related articles
Greggs to Close Four UK Factories, Risking Up to 740 Jobs
The bakery chain says the closures are needed to grow in the 'most cost-efficient manner', with initial costs of £60m offset by projected annual savings of £20m by 2028.
Greggs to Close Four Factories, Cutting 740 Jobs
The UK bakery chain said the closures are needed to keep evolving alongside changing customer expectations.
Wealth of UK Energy and Food Magnates Rises Sharply Amid Cost-of-Living Pressures
Analysis points to climate shocks, wars and geopolitical tensions as factors pushing up the cost of essentials while some fortunes in energy and food sectors have grown.
Poundland management team in advanced talks over rescue deal, up to 11,000 jobs at stake
A buyout effort reportedly led by former Asda chief Andy Bond is negotiating with a financial backer to take control of the discount retailer.
UK economy revised slightly higher after strong Q2 growth
GDP growth for April-June was revised up to 0.5%, while Greggs said it would cut around 740 jobs.
BrewDog's new owner asks drinkers to give ailing brand 'a second chance'
Tilray, the US cannabis and drinks company that acquired BrewDog out of administration, says it will invest more than £50m to improve the brewer's beers, pubs and working conditions.