Whole Foods Cuts 1,500 Jobs

supermarket-949913_1280In an attempt to lower costs and keep up with competition, Whole Foods plans to cut 1,500 jobs in the next few weeks.

Whole Foods Market Inc. said Monday that many of the reductions will come through attrition. It anticipates workers whose jobs are cut will find other jobs from the almost 2,000 open positions across the company or from new jobs that’ll be created by more than 100 new stores in development.

Whole Foods was recently hurt by bad publicity when New York City officials found it was overcharging customers.

The company has been facing intense competition, with the organic offerings it’s known for becoming more widely available.

Find out more at CBS Money Watch.

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