JOB AXE
Tesco ‘set to axe hundreds of jobs this week’ in latest cost-cutting drive
The job cuts would affect store managers, and the supermarket is understood to be consulting with staff as early as this week
TESCO is expected to axe hundreds of supermarket jobs in order to cut costs, it has been reported.
The job losses would affect store managers, and it's understood that the supermarket will start consulting with staff as early as this week.
1
The supermarket wouldn't confirm or deny , when contacted by The Sun.
A spokesperson only said: "We’re always looking at ways to run our business more simply and efficiently.
"Whenever we make changes in our business, colleagues are always the first to know."
The reports come after Tesco reported its best Christmas results in a decade with a 2.2 per cent rise in UK like-for-like sales.
Book a holiday from £9.50 with The Sun!
FANCY getting away from it all?
Our Hols from £9.50 are back!
This means you could book a break at one of 333 holiday parks across the UK and abroad, for under a tenner!
All you need to do is collect TEN Sun Savers codes or TEN tokens or codewords printed in The Sun. This round is running between Saturday, January 5 and Tuesday, January 29.
If you’re collecting Sun Savers codes:
If you're collecting tokens or codewords use the booking form or book online at
- Price per person based on four sharing. Subject to availability. Terms and conditions and date restrictions apply. For full T&Cs see mcb777.site/holidays.
If it pushes ahead with the job cuts, it would join rivals Asda, Morrisons and Sainsbury's in cutting costs by overhauling the structure of its stores and the number of staff.
A year ago, Tesco announced plans to "simplify" the structure of its store teams, putting 1,700 jobs at risk in the process.
Sainsbury's and Morrisons did the same around the same time, while Asda started consulting with staff over 2,500 potential jobs cuts in October last year.
Tesco is aiming to make £1.5billion in cost savings by 2020 - and its chief executive, Dave Lewis, has already cut more than 10,000 jobs since he took over the supermarket giant in 2014.
More on money
As recently as last week, Marks & Spencer also announced 17 store closures putting over 1,000 jobs at risk.
Yet even more high street job cuts are on the horizon for 2019 as brutal conditions saw 150,000 lost last year.
The £15billion merger between Sainsbury's and Asda has also triggered fears of a rise in shop prices, store closures and job losses.
Morrisons, Sainsbury’s and Tesco accused of ‘cheating’ drivers out of cheaper fuel prices
We pay for your stories! Do you have a story for The Sun Online Money team? Email us at [email protected] or call 0207 78 24516. Don't forget to join the for the latest bargains and money-saving advice.
Topics