Tesco to axe 4,500 jobs

IN the latest blow to the high street, the UK’s biggest retailer, Tesco plans to axe 4,500 jobs.

The latest move has come as part of the restructuring of its Metro stores.

The company will also cut management numbers.

The UK’s business with a staff of more than 300,000 added it would restructure the stores - medium-sized shops found on the high street and by railway stations in a bid to transport stock more quickly, efficiently to the shelves and reduce the time it is held in the storeroom.

“We will simplify and reduce processes and administrative tasks across all of our 153 Tesco Metro stores”, the company said.

“The changes in our Metro stores will be focused on better tailoring them to how our customers' shop. The Metro format was originally designed for larger, weekly shops, but today nearly 70 per cent of customers use them as convenience stores, buying food for that day.”

Jason Tarry, UK CEO, said: “In a challenging, evolving retail environment, with increasing cost pressures, we have to continue to review the way we run our stores to ensure we reflect the way our customers are shopping and do so in the most efficient way.

“We do not take any decision which impacts colleagues lightly, but have to make sure we remain relevant for customers and operate a sustainable business now and in the future.”

Tesco is also making some small changes in 134 of its 1,750 Express stores, where customer footfall is lower.

Changes in these stores will include a slight reduction in opening hours during quieter trading periods at the start and end of the day, and simplifying stock routines.