Ocado plans to cut 1,000 jobs and restructure technology unit
Company warns earnings from licensing business will be below expectations after clients scale back online grocery plans
Related reading
Ocado shares sink after key customer Kroger closes warehouses
US grocer scales back partnership in blow to credibility of Ocado’s tech licensing business
The AI job cuts are accelerating
Companies are preparing for a time where there might be less work for their employees
Ocado suffers blow as Canadian partner shuts distribution centre
Move follows Kroger’s decision to close its warehouses run on the UK retail technology group’s platforms
Corporate job losses mount amid tightening economy and AI growth
Recent cuts mark end of job security for high-earning knowledge workers whose ranks grew since pandemic
We must be mindful of the risks of private credit
The sector remains untested in a severe or prolonged economic downturn
Private equity group Vista to cut staff in favour of AI
Software-focused buyout shop will use technology to trim roles making investor presentations and aggregate data