Competition, Falling Stocks Prompt Whole Foods To Fire 1,500

RIDGEWOOD, N.J. -- Reeling from competition and shrinking sales, Whole Foods will lay off 1,500 workers, or 1.5 percent of its work force, according to reports from forbes.com. 

Most of the cuts will come at the store level, where 30 percent of the staff works part time, the story said.

The move follows bad publicity in recent months that caused its stock to drop 39 percent to a four-year low, Forbes reports. The Austin, Texas-based operator of 422 stores is under pressure to lower its prices, the story said.

For the full story, see at forbes.com.

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