Key facts
- Greggs will close four manufacturing sites.
- Around 740 jobs are expected to be lost.
- The changes are described as necessary for cost-efficient growth.
- The company plans to open 700 new branches.
- The job cuts are expected to occur over the next two-and-a-half years.
UK bakery chain Greggs has announced plans to close four manufacturing sites, resulting in the expected loss of around 740 jobs over the next two-and-a-half years. The company stated that these changes, while difficult, are necessary to enable cost-efficient growth and meet the requirements for its expansion plans. Greggs aims to open 700 new branches as part of this strategy. The announcement comes as the company warns of greater inflationary pressures.