Rubbish Check
Daily Mail Money · 30 September 2026
source“Greggs set to axe more than 700 factory jobs as it warns of higher costs”
R5/ 10
Selective
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates Daily Mail Money's headline that Greggs is "set to axe more than 700 factory jobs as it warns of higher costs" a 5/10, because the same trading update also showed shares jumping 7.6%, sales accelerating, and profit forecasts improving, none of which made the headline.
The Verdict
Selective. The job-cut figure and cost warning are accurate, but the headline strips out the reason Greggs shares actually moved that morning: an upgraded outlook. A reader gets only the bad news from a release that markets treated as good news.
What actually happened
Greggs launched a consultation on closing four of its 14 manufacturing and logistics sites, putting 740 jobs at risk over the next two and a half years, while flagging cost pressures building into 2027. In the same statement, it reported accelerating quarterly sales, a modestly improved profit outlook for 2026, and continued store expansion.
Key facts
- 740 jobs at risk of redundancy from closing four sites (Enfield, North Lakes, Pettigrews, Seaham) over two and a half years, following a consultation, not an already-executed cut.
- Closures forecast to cost £60m upfront but save £20m a year once complete.
- Costs warned to rise at 2%, with "greater inflationary pressures" flagged specifically for 2027, not an immediate current-year shock.
- Company-managed like-for-like sales rose 3.4% in Q3, up from 2.1% in H1, prompting a "modestly improved outcome for 2026" versus a prior forecast matching last year's £172m profit.
- Shares rose 7.6% to 2,018p on the day, taking 2026 gains to 20.3%.
- Net new shop openings: 57 so far this year, with 100 to 110 expected by year-end, plus 12 "Express" stores.
What to watch for
Watch the formal consultation outcome, 740 is a proposed at-risk figure that could shift before it's finalised. Also watch whether the flagged 2027 inflationary pressure actually materialises, and whether coverage circles back to it once the current "modestly improved" 2026 forecast is old news.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
