Whole Foods Cuts 49 Jobs at Austin HQ

"Whole Foods Market Inc. said Wednesday it is cutting 49 jobs at its Austin headquarters.

The announcement came after Whole Foods reported disappointing third-quarter financial results last week. The company blamed the ailing economy for its performance and said it was beginning cost-cutting measures.

"Due to the current economic environment and the impact it is having on our business, Whole Foods Market regrets to announce that we are eliminating 49 out of its 650 positions that report to our global headquarters in Austin," the company said in a statement.

It is rare for Whole Foods to lay off employees. It was not immediately clear which departments within the company's headquarters are going to be affected.

Whole Foods has a history of weathering economic dips and rises well. But the latest economic downturn, coupled with a rise in fuel costs, has hurt the chain of 270 natural and organic food stores."

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