Kroger Offering Early Retirement To 2,000 Corporate Employees

19-Dec-2016 - USA

Kroger Co. (KR) announced one-time Voluntary Retirement Offering for certain non-store associates in an effort to cut costs. The company said early retirement to 2,000 corporate employees, generally in administrative jobs, are eligible for the offer through early March.

The company specified that the expenses related to the offer will be reflected in its first quarter 2017 results. The effect of this plan was not included in the company's initial comments on Fiscal 2017.

Eligibility for the Voluntary Retirement Offering will generally include administrative associates who meet certain criteria related to age and years of service as of December 1, 2016. The offer does not include store and district associates, senior officers, and supermarket division presidents. (dpa)

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