Iceland launches review of its management structure

Frozen food retailer Iceland has confirmed it has launched a review of its management structure, but has denied that any jobs are at risk. 

Iceland has confirmed reports it has started a review with a formal consultation process expected to take place within weeks however has claimed that as of yet “no financial decisions have been made”.

In a statement today the retailer said: “Iceland Foods has no plans for major reductions in its UK workforce of more than 25,000 people, and absolutely no plans to reduce the number of staff employed in its stores. 

“Like every other retailer, we regularly review our management structure to ensure that we are running our business as efficiently and economically as possible. Such a review has recently begun but it is an ongoing process and no decisions have yet been taken as a result of it.”

In its latest financial reports, Iceland reported an 8.7% drop in adjusted EBITDA to £140.1m, down £13.4m, for the year ending 29 March 2019.

The group said the reduction occurred entirely in the first half of the year and reflected sales performance, increased staffing costs as a result of the rise in the National Living Wage and increased distribution costs as a result of higher fuel prices.

Last week, Sainsbury’s announced its CEO Mike Coupe is set to retire this year, after almost six years in the role.