South Africa’s No. 2 Grocer Spar To Cut Jobs
Spar Group informed shareholders on Tuesday that it will implement a voluntary severance programme in certain areas of the business as part of its ongoing focus on improving operational efficiency and competitiveness.
“The severance programme forms part of a broader reset designed to align the Group’s cost base with current trading conditions and ensure Spar is appropriately structured to support future sustainable growth,” reads the statement.
The company said the process does not affect the Group’s retailers or services provided to Spar’s retail network. The Group remains focused on strengthening operational performance and supporting its network of independent retailers.
This announcement follows last month’s news of Group CEO Angelo Swartz’s resignation, with current CFO Reeza Isaacs stepping into the top role effective 1 March 2026.
After 19 years of dedicated service, including two and a half years as Group Chief Executive Officer, Swartz will depart Spar on 28 February 2026. His exit marks the end of a lengthy tenure that saw him guide the retail giant through a period of substantial operational complexity and strategic repositioning.
Swartz took the helm in October 2023 during a turbulent chapter for the group. His leadership focused on three critical pillars: operational stabilisation, portfolio simplification, and balance sheet strengthening.
To ensure business continuity, Swartz will remain available to the group for three months post-departure, assisting with key strategic initiatives and facilitating a seamless handover.
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