Asda has confirmed that 475 roles will be axed at its headquarters in Leeds and Leicestershire as part of a restructure of the business, with a reduction in working mix.
The retailer said the move would affect less than 10% of its head office staff, allowing it to “simplify its structure” in a challenging market.
The company’s chairman, Lord Ross, said in a note to staff on Tuesday that work would be mandatory at least three days a week from January.
It previously reported that total revenue excluding fuel fell 2.2% to £5.3 billion from April to June 2024.
A spokesperson for the company said: “The changes communicated today will result in the redundancy of 475 colleagues at our headquarters in Leeds and Leicestershire.
“In addition, regular contractors involved in our IT transformation project will also leave within a few months of completion of the project.”
Employees will also be required to spend at least three days a week at Asda locations from January 2025.
Lord Ross said the changes were needed to “ensure the business can best meet our long-term objectives”.
“As part of this process, we are redefining roles and responsibilities to eliminate duplication and simplify the structure,” he said.
In 2020, billionaire brothers Zuber and Mohsin Issa bought Asda from Walmart for £6.8bn, backed by equity firm TDR Capital.
Last week, Asda announced that TDR Capital had acquired a stake in Zuber Issa, who subsequently resigned from a non-executive role on Asda’s board.
This brings TDR Capital’s stake in Asda to 67.5%.
Mohsin Isa, who takes a step back He stepped down from his executive leadership role in September with a 22.5% stake, while Walmart still owns 10%.
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