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Pittsburgh-based Giant Eagle announced that it is offering buyouts to 340 of its corporate employees, saying that "competition from other food retailers and falling food prices are behind their need to cut operating costs," according to a story from WOSU Radio.

The number of employees getting the offer represents about one percent of its total employee count; Giant Eagle says that the cuts will not affect jobs at any of its 420 stores.

No word on precisely how many people Giant Eagle expects or hopes will take the offer.
KC's View:
Nothing wrong with trying to be more efficient, as long as, at the same time, the company focuses on being more effective. These two things don't always go hand in hand, and in my view, "competition from other food retailers and falling food prices" make greater effectiveness more important, not less so.

Eleven years ago I wrote a piece about business lessons gleaned when I learned how to drive a race car. One of those lessons was that one of the ways you can pass the competition is by speeding into the curves, as opposed to slowing down.

And that's something I think that efficiency-minded retailers ought to consider.