Less than a month after reporting a $750 million quarterly loss and having its Fitch Rating downgraded to B, Supervalu (Acme & Save-A-Lot in the Greater Philly market) announced yesterday that it would eliminate approximately 800 corporate and regional office jobs by February 25.
The company is in the midst of a strategy to deliver more competitive pricing by reducing operating costs. Supervalu currently has about 135,000 employees.