Ocado to axe R&D roles in cost-cutting drive, despite narrowed losses

Ocado is set to reduce its research and development (R&D) workforce both in the UK and globally as part of its effort to return to profitability, despite a strong performance from its online retail division.
The grocery technology giant announced plans to scale back R&D spending in a bid to cut costs, having invested over £800m in the division over the past four years.
CEO Tim Steiner did not specify the number of job cuts but emphasised that it would be “significantly”