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| Name | Symbol | Market | Type |
|---|---|---|---|
| Tesco PLC (PK) | USOTC:TSCDY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.2375 | 1.91% | 12.6975 | 12.51 | 12.79 | 12.6975 | 12.50 | 12.50 | 259,101 | 21:01:20 |
From Jul 2019 to Jul 2024
By Ian Walker
LONDON--J Sainsbury PLC (SBRY.LN), the U.K. number two supermarket by market share, said Tuesday it will cut 500 jobs as part of its previously announced effort to save 500 million pounds ($757.5 million).
Following a review of central costs and structures, Sainsbury said it plans to streamline its central divisions and bring the supermarkets and convenience businesses together. The job cuts will be spread across all divisions and grades in store support centers, it added.
"The formal consultation started today. We expect the new structures to be in place by the start of the 2015/16 financial year and as a result, we will be set up to work more effectively together to better serve our customers," Chief Executive Mike Coupe said.
At the time of its first-half earnings in November, Sainsbury announced plans to save up to GBP500 million over the next three years, but didn't say at that time how it would save the money.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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