Whole Foods Cutting 1,500 Jobs

Whole Foods is cutting about 1,500 jobs and lowering prices in an attempt to reverse a slide that has seen its stock plummet over 40 percent.

The grocery chain opened a Wellesley store last year that employs about 150 workers. It was immediately unclear if any Wellesley workers are affected by the cuts.

Company executives said the 1,500 reductions will happen through the eight weeks. They said “many” of the cuts will be made to unfilled positions, adding affected workers can try to apply to 2,000 open positions or wait for new ones at about 100 stores under construction.

Executives said they need to focus resources on initiatives like technology upgrades.

“This is a very difficult decision,” Walter Robb, company co-CEO, said in a statement. “We are committed to treating affected Team Members in a caring and respectful manner. We have offered them several options including transition pay, a generous severance, or the opportunity to apply for other jobs. In addition, we will pay these Team Members in full over the next eight weeks as they decide which option to choose.

“We believe this is an important step to evolve Whole Foods Market in a rapidly changing marketplace.”

Photo: Whole Foods