Kroger Announces Voluntary Retirement Offering for Non-Store Employees

Kroger Announces Voluntary Retirement Offering for Non-Store Employees

The Kroger Co. announced a one-time Voluntary Retirement Offering for certain non-store associates. “Kroger would not be the successful company it is today without the incredible efforts of all of our associates. We believe a generous Voluntary Retirement Offering is in line with our company values and recognizes the long careers many of our associates have had with Kroger,” said Rodney McMullen, Kroger’s chairman and CEO. “Kroger is committed to our operating model of lowering costs to invest in the areas that matter most to our customers.”

A critical focus of Kroger’s Customer 1st Strategy continues to be ongoing cost controls in areas where customers do not see them in order to invest in areas that improve Kroger’s connection with customers and associates. The company’s Voluntary Retirement Offering for non-store associates is in line with this approach.

Eligibility for the Voluntary Retirement Offering will generally include administrative associates who meet certain criteria related to age and years of service as of December 1, 2016. The offer does not include store and district associates, senior officers, and supermarket division presidents.

Approximately 2,000 non-store associates are eligible for the Voluntary Retirement Offering. Because it is voluntary, savings and cost will be based on the number of associates who accept the offer between now and early March, when the consideration periods expire. Expenses related to the offer will be reflected in Kroger’s first quarter 2017 results. The effect of this plan was not included in the company’s initial comments on Fiscal 2017.

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