Greggs To Shut Bakeries And Axe 355 Jobs

Greggs is cutting up to 355 jobs as it shuts three of its bakery sites under a £100m restructuring plan. Greggs operates 12 bakery sites but said that "unfortunately not all are suitable for long-term investment due to their location and size". Shares rose 14% following the announcement which came as Greggs reported a 25% rise in profits before exceptional items to £73m for the year to 2 January.