Home / Retail Management / Tesco to axe up to 10,000 positions, reports suggest

Tesco to axe up to 10,000 positions, reports suggest

Via The Guardian : Job cuts to come from management positions, company headquarters and the closure of 43 stores.

Supermarket chain Tesco could shed up to 10,000 jobs with posts being axed at head office, through store closures and a dramatic change in the way remaining supermarkets are run.

Dave Lewis, chief executive, is understood to be planning remove an entire layer of management in existing outlets as well as losing 6,000 from the 43 stores that will close and positions at company headquarters in Cheshunt, Hertfordshire, according to the Sunday Telegraph.

The plan to change the fortunes of the ailing chain follows the example of his overhaul of Uniliver UK where he earned the name “Drastic Dave” for the scale of job cuts and reduction of the product base. Tesco has already shelved plans for 49 new stores and had announced last month that 43 would close with the loss of 2,000 jobs in an effort to cut costs.

Tesco, as the country’s largest retailer, is the biggest privater sector employer with 310,000 staff in 3,330 stores.

The big four supermarkets have all suffered in the current economic climate. Morrisons has made 2,600 redundancies and Asda announced 1,360 job losses. Sainsbury’s announced last month that it was to cut 500 positions.

A spokesman for Tesco declined to comment on the report.

Following a decline in market share of 29% and the recent accounting scandal, the company had said it will make cuts of £250m, reduce overheads by 30% and close its staff pension scheme.

About Editorial Team

Check Also


Retailers Closing Stores in 2018

via Kiplinger: Moody’s lead retail analyst Charlie O’Shea didn’t sugarcoat his outlook last year regarding retail …