Major restructuring of UK retailer
January 9 , 2015
Tesco CEO Dave Lewis has unveiled a major restructuring program of the troubled British supermarket, axing the Cheshunt head office and hinting at large-scale job cuts, according to media reports.
The new steps will also see closing or abandoning some 100 Tesco stores, media reports said.
Though he didn’t give a precise number of expected job losses, Lewis said a “significant restructuring” was being undertaken.
Tesco’s 314,000 employees in the UK make it the country’s largest private sector staffer. Around 3,000 people work in Cheshunt alone.