Whole Foods is cutting 1,500 jobs - WFSB 3 Connecticut

Whole Foods is cutting 1,500 jobs

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NEW YORK (CNN) -

Whole Foods said Monday that it's cutting 1,500 jobs.

The boutique grocery store chain said this represents 1.6% of its workforce, and that most of the cuts will be accomplished through "natural attrition."

In addition to the pricing, the company said it was conducting the cuts to "invest in technology upgrades while improving its cost structure."

The company said that its employees might be able to shift into new jobs opening as the company works on developing 100 new stores.

Whole Foods did not immediately respond to CNNMoney's request for comment.

--CNNMoney's Cristina Alesci contributed to this report.

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