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LANDOVER, Md. - Ahold-owned Giant Food based here said Thursday that it will cut or reallocate as many as 650 jobs as its operations are merged with sister company Stop & Shop Supermarket Co., according to a report by The Associated Press.
The positions, which account for about 3 percent of Giant's work force, are all administrative jobs at the company's Landover headquarters. Giant said workers at its distribution centers and 199 stores will not be affected.
Giant also announced that Bill Holmes, a Stop & Shop v.p., will take over management of Giant in July. Current chief executive Richard A. Baird will step down this summer, according to the report.
Two months ago Royal Ahold NV announced it was ending local management of Giant. At that time the company gave management responsibility to executives from Quincy, Mass.-based Stop & Shop.
Scher said officials met with administrative staff Thursday afternoon to inform them of the changes.