Even well run businesses such as Raley’s and Bel Air are feeling the economy.  Raley’s announced it will be laying off 150 people.   Raley’s chief executive officer Michael Teel says the layoffs are due to the economy.  The layoffs include everything from entry-level to vice president positions.  Five high-ranking executives, including chief operating officer Dave Clark, are among those being laid off.

Michael Teel said the workers who lost their jobs Friday were put on a paid leave of absence for 60 days to comply with federal rules that require notifications in during large job cuts.  After the 60 days, laid off workers will be eligible for severance payments of one week of pay for each year of service, with a 26-week maximum.  Teel, who took over as CEO in January, also said he would take a 50 percent paycut.

Raley’s is a 75-year-old chain and  is one of the largest private employers in the Sacramento region, with about 15,000 workers.  Raley’s is battling more competition, including retail giant Wal-Mart, and losing market share.  The Raley’s layoffs do not affect employees at its 134 grocery stores, which include Bel Air Markets and Nob Hill.  The privately owned company reported $3.4 billion in sales in 2009.