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As it continues to ramp up its multiformat strategy with an eye on maximizing cost efficiencies and streamlining its supply chain, Giant Eagle is offering buyouts to approximately 1 percent of its 34,000 employees.
The buyout offers are limited to the Pittsburgh-based retailer’s corporate employees and won't affect front-line store associates. Corporate employees who take the buyout offer will receive a severance package and outplacement assistance.
“While at this time it is difficult to determine a definitive number of affected positions, it is anticipated that the separation activity will impact approximately 1 percent of [our] 34,000 team member workforce,” according to the company spokesman Dan Donovan. The company will actively work with its corporate team members to conclude the buyout efforts in the coming weeks, Donovan added.
“Like many food retailers regionally and nationally, Giant Eagle has recently been impacted by various industry factors, including, but not limited to, deflationary trends in food pricing,” Donovan noted. Accordingly, he continued, “The company has realized a need to maximize cost efficiencies, reduce overhead costs and streamline our supply chain.”
Recently named Progressive Grocer’s 2016 Retailer of the Year, Giant Eagle generates approximately $9.6 billion in annual sales and operates 420 supermarkets and GetGo convenience stores throughout western Pennsylvania, north central Ohio, northern West Virginia, Maryland and Indiana.