Sainsbury’s to axe 3,500 jobs as interim sales climb

Sainsburys Selly Oak fascia

Sainsbury’s has unveiled strong underlying results at the half-year mark as it revealed plans to streamline its Argos stores estate and shutter food counters in store, putting 3,500 jobs at risk.

Sainsbury’s plans to close 420 Argos stores by 2024 alongside shuttering its meat, fish and deli counters due to reduced customer demand, with 3,500 jobs at risk as a result.

The grocer will add a further 150 Argos shop-in-shops to its supermarkets, of which there are currently 315, alongside up to 200 more collection points on top of the current 296. The planned Argos store closures will leave 100 standalone stores in total.

Sainsbury’s said it has an “excellent track record” of finding alternative roles for colleagues, having retained 90% of staff when it acquired Argos in 2016.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.