Major restructuring of UK retailer

  • 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.



    Tagged as: Tesco CEO, Dave Lewis, restructuring, British supermarket, Cheshunt, job cuts, business news