business news in context, analysis with attitude

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• The St. Louis Business Journal reports that private equity-owned limited assortment store chain Save-A-Lot is laying off about 100 people at the corporate level, or about one percent of the company-wide workforce.

The company says that “the reductions are mostly managerial and administrative positions. They do not include store level team members nor do they impact operations at our 1,300 stores.”

Save-A-Lot was sold by Supervalu in 2016 to Canadian private equity group Onex Corp. for $1.4 billion. The Business Journal writes that “Save-A-Lot moved from its former headquarters in Earth City to its new headquarters at the Crossings at Northwest Plaza in St. Ann in early December. The company said at the time that it had invested $8 million to revamp the 162,000-square-foot space at the former Northwest Plaza where it would house 500 workers. Save-A-Lot's chief investment officer, Kevin Proctor, told the Business Journal last month that the company planned to add at least 60 employees after the move was finalized.”

One doesn’t normally shift from hiring to laying off if things are going well. Just saying.
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