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. Last Updated: 07/27/2016

EDITORIAL: Sainsbury to Cut Jobs

LONDON -- J. Sainsbury PLC, Britain's No. 2 supermarket group, announced Wednesday 1,100 store management job cuts in a major shake-up to slash costs after reporting sluggish sales and profits over the past year.

Sainsbury, which lost British market leadership to rival Tesco PLC a couple of years ago, said its restructuring would save pounds 160 million ($257.6 million) over three years and revitalize flagging supermarket sales by the end of this year.