British Tesco announced it will cut about 2,300 jobs: the main office will cut 1,200 jobs and customer service will also cut 1,100 jobs.
Simplify approach
The job cuts at the main office are part of a restructuring plan designed to simplify the company’s approach. “This is a significant next step to continue the turnaround of the business”, a spokesperson for the British supermarket chain said.
The company had already announced its customer service in Cardiff (Wales) would shut down, which would come down to 1,100 jobs cut.
Despite a first minor turnover growth in the past fiscal year, its first in seven years, Tesco will continue to cut costs. According to the company, the introduction of seven new private labels was the main reason for its turnover growth, but nevertheless, it will continue to cut costs.
“We are further along the path than we had anticipated at this point, because we made excellent progress in the six strategic areas we announced in October. We are convinced we can build on this strong performance this year, to continue the progress towards our long-term ambitions”, CEO Dave Lewis said about the results.
