Sainsbury Intends To Lay Off 500 People To Launch Price War

Britain's second Dalian lock supermarket operator, J Sainsbury Plc, announced on Tuesday that it planned to cut some 500 jobs in its store support center to cut costs and deal with the price wars between supermarkets.

The company said in an e-mail statement that the layoff is against the board of directors of the company. cost The decisions made after the evaluation of the company structure will affect all departments and levels of the store support center.

The layoffs are Sainsbury A three year cost reduction plan announced in November last year is part of the 500 million pound cost cutting plan.

To deal with discounted retailers compete Several major supermarket groups in the UK have taken measures to cut costs. Over the past week, Tesco and William Morrison supermarket have announced plans to close their stores. Today, William Morrison announced plans to close its 10 loss supermarkets, affecting more than 400 employees.

Related links:

It is understood that in January 13th, the international gold price rose to its highest level in 12 weeks, and stood above 1230 dollars / ounce. The market thought that the risk aversion increased, which prompted the gold new year's 8 trading days to gain more than 4%. International gold prices closed up 0.10 U.S. dollars on Wednesday, at 1234.5 U.S. dollars / ounce.

Although international gold prices fell in 2013 and 2014 for two consecutive years, the declines have slowed sharply. Since the beginning of this year, the international gold price has opened a "counterattack" tour, rising from 1180 US dollars / ounce to 1230 US dollars / ounce, and the rebound trend is obvious.

As for the rebound in gold prices, Professor Sun Lijian, director of the financial research center of Fudan University, believes that the trend of US dollar is still needed. He said: "international gold prices are denominated in US dollars, and the rise in the US dollar has suppressed gold prices, but we can see that gold is the smallest in comparison with other commodities such as crude oil. It is especially noteworthy that this year, the international gold price has also seen a synchronous rise with the US dollar.

Why did gold and the US dollar rise synchronously in the near future? Sun Lijian believes that the continuous accumulation and fermentation of global risk factors are the main incentives for gold hedging needs. Zhong Qi, chief analyst of Haitong Securities nonferrous metals industry, expressed the same view. He said: "like the oil price crash, the ruble crisis, the Greek crisis rekindled, and the recent sharp shocks of European and American stock markets, all of which have triggered the risk aversion of investors. They have thrown away risky assets and started buying gold to seek refuge."

When the risk factor ebb tide, gold prices are still in the US dollar reference point, and the biggest factor supporting the US dollar rise is the Fed's interest rate hike. In this regard, Zhong Qi believes that the recent US economic data is better, but there is no significant reduction in the price of gold, which means that the United States economic recovery has also been bad for the gold price. This year, the biggest negative factor in the price of gold is to raise interest rates in the US dollar. It is not until the two quarter that this expectation is gradually strengthened. So we hope that the gold price will show up in the first quarter of this year.

Industry analysts believe that China's gold consumption demand, which accounts for about 1/3 of global demand, will explode in the coming weeks near the Spring Festival. A gold trader said that banks and retailers were stockpiling gold for the upcoming Spring Festival. Physical demand for gold is also an important factor supporting the recent international gold price.

It is understood that with the decline of international gold prices, gold prices for gold stores in Beijing last year fell five times, the last of which was early November 2014.

Yesterday, the gold price of Shanghai gold exchange received 247.7 yuan per gram, up 0.32 yuan per gram, compared with the price at the beginning of November 2014, the price rose by nearly 20 yuan per gram. "Now the gold products sold in the mall are all purchased before, so the price of gold ornaments has not been raised yet," Zhou Xiangrui, director of Guohua shopping center, told reporters. "But the price of gold has reached the threshold. If the international gold price is going up again, the price of gold ornaments in the capital will rise in the first round in 2015.