In the News
Thousands of Tesco Jobs at Risk
Tesco is reported here to be making additional significant cost savings, including delayering & removal of specialist fresh food counters such as the deli, butchers and fishmongers. This is all part of a trying to compete with the true low-cost "deep discounter" supermarkets like Aldi and Lidl.
CEO Dave Lewis is certainly not holding back in plans to control operating costs in the face of severe pricing pressures. But should these plans have leaked in the media before employees and their representatives are told?
Tesco's share of the UK grocery sector has continued to decline - dropping from 29 percent in 2015 to 27.4 percent in the autumn of 2018.
Last year, Tesco spent £4 billion to acquire the wholesaler Booker in a move designed to shore up their lead position in food retailing in the UK.