Supervalu cutting 800 jobs, 200 in Minnesota

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Supervalu is downsizing
Supervalu announced plans today to cut 800 employee positions across the country, including 200 in Minnesota.

The company, based in Eden Prairie, has been struggling for the past couple of years: In 2010 and 2011, the company cut 650 employee positions either through layoffs or by leaving open positions unfilled.

Supervalu has tried to turn itself around in part by targeting food stamp users with its prices, but that hasn't been enough to save all those jobs.

The cuts will mostly affect employees in Eden Prairie and Hopkins, according to the Star Tribune.

The cuts come in the wake of continuing bad news for the company, as Supervalu underperformed in important financial metrics "for the 15th consecutive three-month period."

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2 comments
Darkrain44
Darkrain44

Get rid of Supervalue BOARD. They have no logical plan for growh and are jeopardizing the dividend!! When a stock drops 50% in 6 mmonths you must clean house. There are dozens of great CEO'S that would like to take Supervalue to the 20 dollar mark which should not be hard with the base of stores across the country. Something is wrong internally for this company not to be a 20 to 25 dollar stock. Continue this post to as many media outlets as possible before its to late and the company can not revive from the bad management it has !!

Mark Dayton
Mark Dayton

"Supervalu has tried to turn itself around in part bytargeting food stamp users with its prices but that hasn't been enough to save all those jobs."First of all, there is no such thing as food stamps anymore.  It is now called EBT (Entitlement Benefits Transfer).  Second of all, people who use EBT do not purchase inexpensive food.  They purchase expensive convenience foods as well as steaks and lobster.  They get all of their pantry items (bread, cereal, etc.) at the food shelter for free.  The remaining balance on their EBT cards are then pawned off for cash that is used to buy liquor, cigarettes, and gas to fill up their SUV's.   

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