Whole Foods warns of layoffs

Via Slog:

Blaming a tough economy, Whole Foods executives sent an ominous letter to all employees in its Pacific Northwest stores last month that warns of potential layoffs, announces a hiring freeze, and says new stores are on hold.

“Many teams are clearly overstaffed for their current sales and are at the point where labor needs to be reduced…” the memo says. It adds that as “sales soften,” the company has accumulated $59,000 in labor deficits. “Team sales and labor will be reviewed in January and tough decisions may be made if we are unable to achieve sales to labor balance by that time.” The memo says no layoffs will occur until January.

According to several sources, the largest local Whole Foods store at 56,000 square feet, located in Bellevue, has been lacking for sufficient business. Meanwhile, as Jonah reported, the company delayed plans for a store in Interbay and announced plans to downsize it.

In fact, the Texas-based chain plans to only build smaller stores from now on.

I adore Whole Foods, but I don't usually shop there because it's just too darn expensive. And that's when I'm not worried about money...