Greggs puts 740 jobs at risk as baker braces for worse inflation
Greggs has announced a shakeup of its manufacturing processes which could lead to the closure of four factories and cost 740 jobs, as the baker warns of “greater inflationary pressures” across its business. The sausage roll seller told shareholders on Wednesday that it is consulting on a move to consolidate its manufacturing operations, which would [...]
Baker Greggs is facing the potential closure of four factories and the loss of 740 jobs, due to a review that aims to streamline its production and reach 3,500 bakeries in the UK. The sausage roll seller warned of "greater inflationary pressures" in 2027, alongside a £60m investment that could save £20m annually. Despite modest sales growth, Greggs acknowledged the impending inflationary pressures as a concern.
The company is consulting on the move to consolidate operations, emphasizing the need for cost-efficient measures to meet growth demands. Sales increased by 7.7% in the latest quarter, driven by new menu items and successful launches of products like the steak and stilton bake. Despite cost increases, Greggs expects its performance to remain strong as it continues expanding its shop footprint.
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