Whole Foods has to operate in our capitalist economy, and tough business decisions such as layoffs happen in the business world.
I don’t know about Whole Foods in particular, but have heard that supermarket chains have very narrow profit margins, on the order of 1 or 2 cents on the dollar of gross sales. It seems that it’s a constant balancing act in that business, to maximize sales and still turn a profit. And as we all know, a business cannot run operating losses long term and stay in business.
“””but have heard that supermarket chains have very narrow profit margins, on the order of 1 or 2 cents on the dollar of gross sales”””
Low margins might have been true in the good old days. In Florida I have made comparisons in prices between ALDI and PUBLIX.
On many, many items the PUBLIX price can be double the price at ALDI. No, the big grocery stores are charging 25 cents or more on the dollar for their margins. When the grocery stores started taking credit cards, that change alone cost them 2 cents or more.
“And as we all know, a business cannot run operating losses long term and stay in business.”
Unless you are building electric cars...
This is the big lie they want everyone to believe. Supermarkets calculate their profit margins after paying out huge bonuses to upper management. Then they cry about their slim margins.