Online grocery specialist Ocado cuts a thousand jobs

Ocado is laying off a significant proportion of its workforce in an effort to reduce costs. The British retail technology company is cutting 1,000 jobs as part of a cost-cutting exercise worth £150 million.

Replaced by AI

Almost 5% of Ocado’s entire workforce will be lost. The company aims to save around £150 million (approximately €175 million) in technology and support costs by 2026. The group is cutting back on research and development spending and is counting on “AI efficiencies” and “cost discipline” to reduce costs structurally. In addition, Ocado is merging its Ocado Solutions and Ocado Intelligent Automation divisions into a single integrated branch.