Jump to contentIndependentSwipe for next articleIndependent Bulletin homepageDownload our appAllNewsSportCultureLifestyleHenry Saker-ClarkThursday 16 July 2026 12:38 BSTOcado axing around 1,000 workers amid cost-cutting overhaulLondon-listed retail technology firm Ocado is actively pursuing new global partnerships, particularly in the US, after two major supermarket clients, Kroger and Sobeys, announced plans to close their robotic warehouses.The expiration of several exclusivity agreements has enabled Ocado to intensify its search for new grocery prospects across North America, Europe, and the Asia Pacific region.Ocado reported a 54 per cent increase in group revenues to £1.04 billion for the six months to 31 May and earnings before tax of £17 million, a significant improvement from a £173 million loss a year earlier.This revenue growth was heavily influenced by £354 million in one-off fees and other revenues connected to the proposed closures, with underlying revenues only 1 per cent higher after stripping out this impact.CEO Tim Steiner confirmed he will stay on until December next year, with succession plans to be finalised by the start of the 2027-28 financial year, as the company's shares dropped 15 per cent on Thursday morning.In fullOcado seeks new American investment after supermarket warehouse closuresMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in