Ocado to cut 1,000 jobs as part of restructuring plan

Ocado is to cut around 1,000 jobs as part of a plan to reduce costs and restructure its operations.

The company, which provides automated technology for distribution centres and runs its own UK online grocery business through a joint venture with Marks & Spencer, said two-thirds of the job losses would be in the UK.

The majority of those affected have roles at the head office in Hatfield.

Ocado chief executive Tim Steiner said of the change, “Unfortunately, this means a large number of roles will no longer be required.

“We are grateful to the colleagues who are affected by these changes and whose talent and hard work have made a lasting contribution to Ocado.

“We will support those affected through this process,” he told investors.

This breaking news story is being updated, and more details will be published soon.