A major bakery chain has revealed plans to shut down four of its production sites, a decision framed as essential for sustaining growth while controlling costs. The company cites financial efficiency as the driving factor, with the restructuring expected to generate annual savings after an initial investment of tens of millions in redundancy and operational adjustments. Consultations are underway as the move could affect hundreds of jobs over the coming years, marking a significant shift in the company’s operational strategy. The announcement comes amid strong sales performance, highlighting the tension between expansion and cost management.
Bakery chain, whose sales are up 7.7%, says move is necessary to provide growth in ‘most cost-efficient manner’Business live – latest updatesGreggs has announced plans to close four of its factories, in a move that could result in 740 job losses over the next two and a half years.The bakery chain said it was consulting on the closures, which would initially cost £60m when including disruption costs and redundancy payments but then could create £20m of savings each year by 2028. Continue reading...
