ARGYLL REALIGNMENT TO CUT 4,800 JOBS

LONDON (FNS) -- Argyll Group here, which owns Safeway in the United Kingdom, said its ongoing $306.2 million (195 million pound) restructuring program will result in the loss of 4,800 jobs.The program, called Safeway 2000, is aimed at making the United Kingdom's third-largest food retailer more competitive with its two rivals, J. Sainsbury and Tesco, both here.Sir Alistair Grant, chairman of Argyll,

LONDON (FNS) -- Argyll Group here, which owns Safeway in the United Kingdom, said its ongoing $306.2 million (195 million pound) restructuring program will result in the loss of 4,800 jobs.

The program, called Safeway 2000, is aimed at making the United Kingdom's third-largest food retailer more competitive with its two rivals, J. Sainsbury and Tesco, both here.

Sir Alistair Grant, chairman of Argyll, said the goal is to boost Safeway's sales per square foot to $23.55 from the

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