29th Jan 2025 14:06
(Alliance News) - Tesco PLC is to cut about 400 jobs across its stores and head office as part of plans to "simplify" the business.
The UK's largest supermarket chain said managers in its head office and Tesco Mobile phone shops, as well as staff at some of its in-store bakeries, will be affected.
The Welwyn Garden City, England-based company said it is having to seek "more efficient ways of working" due to the increasingly competitive nature of the UK grocery industry.
The cuts come a week after rival J Sainsbury PLC's said it would axe around 3,000 jobs as part of a major overhaul.
Matthew Barnes, Tesco's UK head, said: "These are difficult decisions affecting our colleagues, but we believe they are necessary to enable us to invest in what matters most to our customers.
"Our priority is to support impacted colleagues and we will do everything we can to help them find alternative roles within our business. Today, we have almost 1,000 vacancies available."
Tesco shares were 0.2% lower at 369.80 pence each on Wednesday afternoon in London.
By Alex Daniel and Henry Saker-Clark
Press Association: Finance
source: PA
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