Woolworths found an incredibly complicated way to say it's sacking 500 people and the tech transformation is slow

Photo by David Ramos/Getty Images

Woolworths today posted its biggest loss in 20 years at $1.23 billion, and cut dividends.

This is from CEO Brad Banducci’s update on his five-point plan to turn the company around:

5. Becoming a lean retailer through end-to-end process and systems excellence

Merchandising platform now stable, SuccessFactors Human Capital Management system now live, 1 Store Program in roll-out

End-to-end process improvement initiatives underway across the business – Faster Fresh, meat processing model, on-shelf availability, store IT support, store maintenance

Over 500 support office and supply chain roles to be removed

More work to do on generating a productivity dividend from new IT systems implementation

So, the company is laying off 500 people and its technology program isn’t really delivering its benefits yet.

Explaining a restructure is understandably difficult, but that is an extraordinarily complex way to explain something simple.

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