WEST SACRAMENTO, Calif. — In an effort to reduce costs, Raley's here said it is eliminating five top executive positions, further fueling speculation about the future of the company. Michael Teel, president and chief executive officer, told SN the cutbacks “have nothing to do with performance issues — it's simply that we can't afford that kind of structure in today's competitive marketplace.” Industry sources said the move to cut the executive committee staff in half reflects the ...
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