(From The Motley Fool)
Whole Foods Market Inc. Cut Employees. Now What?
In FY 2016, the company is aiming for sales growth of 3% to 5%.
In late September, Whole Foods Market (NASDAQ:WFM) announced that it would cut 1,500 jobs over the next two months. The step, the company said, was "part of its ongoing commitment to lower prices for its customers and invest in technology upgrades while improving its cost structure."
Whole Foods is popularly known as an employee-friendly company with a very low attrition rate, so this decision surely wasn't easy. Was the cut necessary? Will the company's fundamentals improve? Let's assess the situation.
http://www.fool.com/investing/general/2015/11/07/whole-foods-market-inc-cut-employees-now-what.aspx
Whole Foods is popularly known as an employee-friendly company with a very low attrition rate, so this decision surely wasn't easy. Was the cut necessary? Will the company's fundamentals improve? Let's assess the situation.
Full disclosure at the bottom:
John Mackey, co-CEO of Whole Foods Market, is a member of The Motley Fool's board of directors. ICRA Online and Eshna Basu have no position in any stocks mentioned. The Motley Fool owns shares of and recommends Costco Wholesale and Whole Foods Market. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.