.WholeFoods, which is owned by Amazon, is laying off hundreds of corporate employees in anticipation of a recession hurting its business later this year.
As Amazon looks to cut costs, Whole Foods will be reorganizing global and regional support teams over the course of the next two months, a spokesperson said, per CNBC. The reorganization will cause several jobs to be slashed in the corporate offices of the company, resulting in job loss for several hundred employees. The cuts affect less than 0.5% of the total workforce.
Whole Foods currently operates in nine regions but will pare down to six regions as part of the restructuring. However, no Whole Food stores themselves, which have grown in popularity over the past several years, are planned to be shuttered.Earlier this month, Amazon announced that it is laying off 9,000 employees from its staff, the latest wave of job losses.
The news comes as economists increasingly predict that the economy will tumble into a recession at some point this year. The country’s labor market has been robust, but recent reports indicate that it is starting to weaken in response to the Federal Reserve raising interest rates several times over the past year.
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