We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 0.44% | 11.35 | 11.22 | 11.52 | 11.40 | 11.35 | 11.35 | 34,355 | 21:00:55 |
By Adriano Marchese
Tesco PLC (TSCO.LN) said Monday that it will eliminate 4,500 jobs and implement changes across its stores to address increasing competition and a more challenging retail environment.
The U.K.'s biggest grocer by market share said it will seek to simplify and reduce processes and administrative tasks across its 153 Tesco Metro stores. Additionally, 134 of its 1,750 Express stores where footfall is lower will introduce reduced opening hours and a simplified stock routine.
In some of its larger stores, the grocer said it will look to streamline operational routines, which will include its process for moving stock around the store and filling shelves. Other changes will include simplification of the management structure, and greater flexibility from customer service at the busiest times of day.
"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," Chief Executive of U.K. and Republic of Ireland Jason Tarry said.
Tesco said that its priority is to support the affected staff, and to find alternative roles within the company for as many as possible.
Write to Adriano Marchese at adriano.marchese@dowjones.com
(END) Dow Jones Newswires
August 05, 2019 10:16 ET (14:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
1 Year Tesco (PK) Chart |
1 Month Tesco (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions