Top Supermarket Chain Shutting Stores

NEW YORK–Albertson’s said Wednesday that it is closing approximately 165 stores in 25 states. The No. 2 supermarket retailer in America also said is eliminating up to 20% of managerial and administrative jobs above store level. Specific stores and jobs were not disclosed.

“We are becoming increasingly confident that over the next year we will achieve our expense reduction goal of $250 million,” Larry Johnston, Albertson’s chairman and CEO, said. “The jobs we are eliminating in corporate management and administrative roles alone should yield $100 million in annual benefits.”