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Australia grocer Woolworths to cut jobs, close stores in overhaul

Published Mon, Jul 25, 2016 · 09:50 PM
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Sydney

WOOLWORTHS Ltd, Australia's top grocer, on Monday said it will book costs of up to A$1 billion (S$1 billion), close stores, axe 500 jobs and consider selling online retailer Ezibuy in a restructuring aimed at regaining its competitive edge.

The overhaul comes after Woolworths posted its first loss in 23 years in February amid increasing competition from …

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