Jacksonville, FL — In an effort to cut costs, regional grocer Winn-Dixie Stores, Inc. will close 30 of its 514 stores and eliminate an additional 120 positions at its corporate headquarters.

“We continue to operate in a particularly difficult economic and retail environment in the Southeast,” says CEO Peter Lynch. “The actions we are taking will enable us to lower our cost structure.”

Winn-Dixie operates grocery stores in Florida, Georgia, Alabama, Mississippi and Louisiana. The company says it expects the cutbacks will result in an annual savings of between $12 million and $17 million.