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.
Tesco (QX) (USOTC:TSCDY)
Historical Stock Chart
From Aug 2020 to Sep 2020 Click Here for more Tesco (QX) Charts.
Tesco (QX) (USOTC:TSCDY)
Historical Stock Chart
From Sep 2019 to Sep 2020 Click Here for more Tesco (QX) Charts.