Asda Plans 12,000 New U.K. Jobs Over the Next Five-Years

By Ian Walker

LONDON--Asda is planning to create up to 12,000 new jobs over the next five-years in parts of the U.K. where it doesn't currently have stores as part of its parent's commitment to invest in the country.

The jobs were announced at a meeting Monday between Doug McMillon, president and chief executive of Asda's parent Wal-Mart Stores Inc. (WMT), with the U.K. Prime Minister David Cameron at Asda's Clapham Junction store in London.

"A seismic shift in the structure of the retail market is underway--not just in the U.K.--but right across the world," Mr. McMillon said, adding: "Asda recognised the change in its market and took early action to develop and implement a strategy that will see it grow--creating more new jobs and bringing real value to more customers in the U.K.".

Mr. Cameron said: "Supporting business, creating jobs and cutting taxes are all part of our long-term economic plan,", adding: "I am delighted that Asda is continuing to invest heavily in the UK, creating another 12,000 jobs that will give people financial security for the future."

Mr. McMillon is in the U.K. as the retailer prepares to hold its first ever board meeting here.

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