USKroger to cut 3,000 corporate jobs over three years as CEO says 'technology is reshaping what's possible'

Kroger, the largest standalone US supermarket chain, said it will lay off 3,000 corporate employees over three years as it ramps up its use of AI.

According to the Associated Press, CEO Greg Foran wrote in a memo to employees on Oct 12 that 'technology is reshaping what's possible' and that the company must 'adopt capabilities, reduce duplicative work.' Kroger outlined its AI strategy last month.

Kroger has 409,000 employees and more than 2,700 stores, and faces pressure from Walmart, Aldi and Amazon. Foran, who previously led Walmart's US division, became CEO in February.

Kroger shares fell 2.2% to $61 in afternoon trading on Oct 13.