Woolworths to Add 7000 Workers by Opening 108 New Stores Across Australia
By Vittorio Hernandez | March 14, 2014 10:16 AM EST
Woolworths had opened 40 new stores in the past 6 months, and previously announced it would open 45 more. However, the number has been changed to 68 more.
The announcement is seen as an extension of the ongoing battle of the grocery giants as rival Coles also unveiled last week plans to open 70 more new outlets until 2017. With its additional investment of $1.1 billion in these new stores, Coles would create 16,000 new jobs.
Smaller grocers are trying to catch up with the two giants, with Alsi and Metcash expected to also open 30 new supermarkets yearly.
The 7,000 new jobs to be created by Woolworths would range from customer service positions to senior management level posts.
However, analysts have warned the store growth of supermarkets could be unsustainable. The ideal of new stores should only be 45 new mid- to large-format supermarkets a year, said Morgan Stanley analyst Tom Kierath.
But not all of the new Woolworth outlets would be groceries. Some would be liquor stores, Big W discount variety stores and home improvement chains Master and Home Timber & Hardware.
The Australian government, though, would surely welcome the creation of more jobs by the grocers given the worsening unemployment rate in the country which stood at 6 per cent in February even though 47,000 new jobs were added that month.
With that addition, the unemployment rate should have gone down, but more Aussies were added to the ranks of jobseekers as the participation rate went up 0.2 per cent to 64.8 per cent.
To contact the editor, e-mail:
Most Popular Slideshows
- Taylor Swift Named People's Best Dressed Stars Of 2014 [PHOTOS]
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
- Jeremy Lin, Kobe Bryant Among The Top 5 Overpaid Players In The NBA (Part 1 - Western Conference)
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
Join the Conversation
- Google Nexus 6 Release Date on Q4 2014 Confirmed by T-Mobile Featuring Wi-Fi Calling
- 2 Reasons Nexus 6 Release Date is Worth the Wait: Android L Data Encryption & Material Design
- Samsung Galaxy Note 4 vs. BlackBerry Passport — Specifications, Features, Release Date And Price Showdown
- 3 Signs Apple iPhone 6 Could be in Short Supply Following its Sept 19 Release Date
- Australia Actively Rallying Support For International Coalition Against ISIS
- iOS 8 Jailbreak Release Update: Pangu Devs Will Outrace Evad3rs in Rollout of iPhone 6, iPad Unlocker
- Micromax Canvas A1 Vs Spice Dream Uno Vs Karbonn Sparkle V: A Choice On Which Android Is The Best