Ocado

Ocado's shares dived almost 10% following the announcement of the Canada===Calgary facility closure by Empire Company===Sobeys, adding to previous setbacks from Kroger. This event highlights challenges in its business model of providing proprietary software and robotics for online grocery delivery, particularly in North America. The company expects to receive £18 million in compensation but will see a £7 million reduction in fee revenue.

Ocado is cutting approximately 1,000 jobs globally, about 5% of its workforce, as part of a restructuring effort to reduce costs by £150 million. This move is intended to streamline operations and scale back research and development, aiming for long-term success despite recent pressures on its share price.

Ocado announced plans to cut about a fifth of its global workforce, approximately 1,000 jobs, primarily in the UK. This is part of a wider restructure to slash costs and scale back research and development.