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UK's Ocado to cut 1,000 jobs in cost saving drive

Published by Global Banking & Finance Review®

Posted on February 26, 2026

1 min read

Last updated: February 26, 2026

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Tags:technology

Quick Summary

Ocado will cut about 1,000 jobs, under 5% of staff, to capture £150m in technology and support savings. About half are R&D roles and two-thirds are UK-based, announced alongside full-year results.

Ocado to Trim About 1,000 Roles as Part of £150m Cost‑Saving Push

Ocado Restructuring and Cost Targets

LONDON, Feb 26 (Reuters) - Ocado, the British technology and online grocery group, plans to cut about 1,000 jobs as it targets savings of 150 million pounds ($203 million) in technology and support costs, its boss said on Thursday.

Scale of Job Cuts

"It's about 1,000 people, it's less than 5% of our global workforce," CEO Tim Steiner told Reuters after Ocado published full-year results.

Two-thirds in UK

R&D headcount cut

R&D and UK Impact

He said about half of the job losses are from Ocado's research and development team. Two thirds of the job losses would be in the UK.

Currency Conversion Reference

($1 = 0.7382 pounds)

Reporting Credits

(Reporting by James Davey; Editing by Kate Holton)

Key Takeaways

•Ocado plans to cut about 1,000 jobs, under 5% of its workforce.
•The move targets £150 million in technology and support cost savings.
•Around half of the cuts will be from the R&D team.
•About two-thirds of the job losses will be in the UK.
•Announcement came alongside full-year results, per CEO Tim Steiner.

Frequently Asked Questions about UK's Ocado to cut 1,000 jobs in cost saving drive

1What is the main topic?

Ocado is cutting about 1,000 jobs as part of a cost-saving program focused on technology and support. The move follows the publication of the company’s full-year results.

2How many jobs are affected and where?

About 1,000 roles will go, less than 5% of the global workforce. Roughly half are in R&D, and around two-thirds of the cuts are in the UK.

3Why is Ocado making these cuts?

The company aims to save £150 million by reducing technology and support costs. Management says the changes are part of streamlining operations.

4When was this announced?

The cuts were disclosed on February 26, 2026, in conjunction with Ocado’s full-year results.

Ocado Restructuring and Cost Targets

Scale of Job Cuts

"It's about 1,000 people, it's less than 5% of our global workforce," CEO Tim Steiner told Reuters after Ocado published full-year results.

Two-thirds in UK

R&D headcount cut

R&D and UK Impact

He said about half of the job losses are from Ocado's research and development team. Two thirds of the job losses would be in the UK.

Currency Conversion Reference

($1 = 0.7382 pounds)

Reporting Credits

(Reporting by James Davey; Editing by Kate Holton)

Key Takeaways

•Ocado plans to cut about 1,000 jobs, under 5% of its workforce.

•The move targets £150 million in technology and support cost savings.

•Around half of the cuts will be from the R&D team.

•About two-thirds of the job losses will be in the UK.

•Announcement came alongside full-year results, per CEO Tim Steiner.

Frequently Asked Questions

1What is the main topic?

Ocado is cutting about 1,000 jobs as part of a cost-saving program focused on technology and support. The move follows the publication of the company’s full-year results.

2How many jobs are affected and where?

About 1,000 roles will go, less than 5% of the global workforce. Roughly half are in R&D, and around two-thirds of the cuts are in the UK.

3Why is Ocado making these cuts?

The company aims to save £150 million by reducing technology and support costs. Management says the changes are part of streamlining operations.

4When was this announced?

The cuts were disclosed on February 26, 2026, in conjunction with Ocado’s full-year results.