Goodbody on Greggs: Potential headcount cuts

Earlier today, Costa announced that 1,650 roles are at risk of redundancy in the UK, and follows the recent announcement by Pret a Manger that is was going to lay off 2,800 employees. To put into context, Costa has about 2,700 stores across UK and has re-opened more than 2,400 in recent months after closing all of them for 6 weeks due to the pandemic. Costa has about 16,000 employees in total, implying that the at-risk roles account for about 10.3% of total workforce.