Tesco To Lay Off Up To 15,000 Jobs

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    Over the weekend, concerns that Tesco is about to lay off 15,000 jobs emerged, amid the reports that the largest grocer of the United Kingdom is planning to overhaul some of its store operations as part of a £1.5 billion cost-cutting plan.

    Reports that were published today in the Mail on Sunday said that thousands of employees in the meat, fish and delicatessen counters of Tesco face the firing line as an outcome of the plans to reshape parts of the business.

    Some industry sources told the paper that the majority of the 732 larger stores of Tesco are likely to be affected by the said plans.

    Such news comes after a difficult Christmas trading season for some of the largest retailers of the United Kingdom, which have tried to revamp their operations in an attempt to stem the tide of declining consumer spending and plunging levels of footfall.

    However, earlier this month, Tesco largely resisted the gloomy retail trend after reporting an increase in like-for-like sales in its best set of festive figures in almost a decade.

    A spokesperson for Tesco declined to comment on whether as many as 15,000 jobs would be laid off, however, in a statement, he stated: “We’re always looking at ways to run our business more simply and efficiently. Whenever we make changes in our business, colleagues are always the first to know.”

    Last week, the British Retail Consortium (BRC) reported that there approximately 70,000 retail jobs were lost in 2018, as the sector struggled with increasing costs, weaker consumer spending, and competition from rivals.