Laurus to axe 1300 jobs

Dutch grocery retailer Laurus has announced that it is to cut 1300 jobs in order to reduce costs. This represents 14 percent of its workforce, and annual savings of EUR 27 million are expected to kick in from 2005. Half of the job cuts will take place at discount chain Edah, around 240 jobs are to go at the Konmar Superstores and 300 at the Super De Boer stores. Laurus, which is 38 percent owned by the French Casino Group, has been involved in a price war in Holland with its rival, Ahold-owned Albert Heijn supermarkets.