EMCC European Monitoring Centre on Change

Greggs

Company/Organisation:
Greggs

Geographic Location

Country: United Kingdom

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.24 - Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores
Number Employed: 25000

Employment Effects

Announcement Date: 29-09-2020
Planned Job Reductions min: 820
Planned Job Reductions max: 820
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-11-2020

Additional Information

Greggs, the British bakery chain has announced plans to cut jobs in its shops across the UK from November. The exact number of redundancies is unknown, but consultations with staff in half of the company’s 2,039 shops have already started.

The company’s chief executive said sales had decreased by 25% compared to last year’s figures in the wake of the COVID-19 crisis and it was necessary to 'resize' the business until demand increases. The chief executive added that while Greggs was 'grateful' for the Coronavirus Job Retention Scheme introduced in April, the business was not planning to take advantage of the new job support scheme that starts in November.

Greggs was founded 75 years ago and now employs 25,000 people across the UK. The bakery produces both savoury and sweet items, and it is the most popular dining brand. 

Update 14/11/2020: Greggs has confirmed that it will cut 820 jobs across the UK. The chief executive officer has said that the company will not be profitable under the COVID-19 restrictions.

Sources: