Tesco: to restructure convenience stores

(CercleFinance.com) - UK retailer Tesco yesterday announced plans to restructure its 134 Metro convenience stores and some of its Express stores.

This restructuring will be through "simplifications" of the organisation and changes in opening hours, along with around 4,500 layoffs.

The group says Tesco Metro outlets were originally designed for customers who go shopping once a week, although they are coming more and more often for everyday purchases. Tesco has also mentioned an increasingly competitive and challenging environment for the retail business, as well as increasing price pressure.

As a result, Tesco plans to make approximately 4,500 employees redundancies.


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