Asda to announce job cuts today

Asda is poised to slim down its workforce after store managers and other officials were called to meetings with company bosses yesterday.

The retailer has confirmed that a statement will be made later today giving full details of the job cuts. Up to 300 jobs may go at the company's 2,000-strong head office in Leeds and a further 1,000 across the country, although Asda has declined to comment on numbers ahead of the official announcement.

Asda chief executive officer Andy Bond (pictured) recently admitted that the Wal-Mart-owned chain had suffered a 'performance slowdown' and the company has responded by boosting its non-food offer, with initiatives such as entry-price consumer electricals.

There will be a full update at retail-week.com when the official announcement is made.