Tesco will axe thousands of jobs at HQ - what a mess - HotUKDeals
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Tesco will axe thousands of jobs at HQ - what a mess

£0.00 @ Tesco
Dave Lewis, Tesco’s new chief executive, is poised to take an axe to the company’s cost base — putting thousands of head office jobs at risk — and set out a plan to sell off assets in an effort to rev… Read More
davewave Avatar
2y, 4m agoPosted 2 years, 4 months ago
Dave Lewis, Tesco’s new chief executive, is poised to take an axe to the company’s cost base — putting thousands of head office jobs at risk — and set out a plan to sell off assets in an effort to revive what was once Britain’s most successful supermarket.

Poorly run company...they need to sort out the ethos and fire their accountants

http://www.ft.com/cms/s/0/0e0d0d52-9299-11e4-9e68-00144feabdc0.html?siteedition=uk#axzz3NedIVkgj
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davewave Avatar
2y, 4m agoPosted 2 years, 4 months ago
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#1
banned 3 Likes #2
Tesco has been abusing their market position for years, Lidl and Aldi are the future.
#3
davewave
won't give access unles you cough up your pi
1 Like #4
Mr Lewis, who was parachuted in to replace Philip Clarke in July, and revealed a £260m hole in the company’s profits just months later, will set out his strategy for reviving the fortunes of Britain’s biggest retailer next week.
Known as “Drastic Dave” for cutting costs at his previous employer Unilever, Mr Lewis is expected to announce hundreds of millions of pounds in savings when he updates investors on Christmas trading on Thursday, according to several people familiar with the situation.
His moves are expected to involve trimming employment at Tesco’s head office, and reducing the number of Tesco UK offices from the current level of 23. Mr Lewis said in October that the retailer, which is Britain’s biggest private sector employer, had scope to be “streamlined”.
Cutting costs would make it easier for Mr Lewis to offer additional discounts at a time when Britain’s grocery stores are locked into a bitter price war.
Tesco is also expected to brief investors on plans to strengthen its balance sheet after its investment grade credit rating was put at risk in December by its fourth profit warning in six months. It has brought in Goldman Sachs to advise it on its options.
banned 5 Likes #5
If I remember rightly, Tesco still made huge profits.
So all these draconian actions because they did not make as much profit as previous years.
It's not like they made a loss.

In fact, looking at their financial statement for 2014, they made a pre tax profit of 2.3 billion pounds. Yes, over two billion pounds.
Granted, once you take the tax and so forth it will be less, but will still run into the hundreds of millions.

So, because their huge profit was not as huge as previous years, they are going to lay staff off and take other measures too.
This is an example of the times we live in - unprecedented corporate greed.
#6
Villa
If I remember rightly, Tesco still made huge profits.
So all these draconian actions because they did not make as much profit as previous years.
It's not like they made a loss.

In fact, looking at their financial statement for 2014, they made a pre tax profit of 2.3 billion pounds. Yes, over two billion pounds.
Granted, once you take the tax and so forth it will be less, but will still run into the hundreds of millions.

So, because their huge profit was not as huge as previous years, they are going to lay staff off and take other measures too.
This is an example of the times we live in - unprecedented corporate greed.

Shareholders have shown they aren't happy with Tesco's opaque accounts?
#7
oh no. i feel sorry for anyone who gets the chop. :(
#8
mutley1
oh no. i feel sorry for anyone who gets the chop. :(

Why? They might like surprises.
#9
deeky
mutley1
oh no. i feel sorry for anyone who gets the chop. :(

Why? They might like surprises.

it's never nice to lose your job even if you didn't want it or get a huge payout. it puts pressure on you to find another quickly if not to earn money, to prove that you can get another job and they can up theirs. X)
1 Like #10
toshapetriji
Tesco has been abusing their market position for years, Lidl and Aldi are the future.

The future isn't looking good, Lidl aldi ewww.
3 Likes #11
MrMan2011
toshapetriji
Tesco has been abusing their market position for years, Lidl and Aldi are the future.

The future isn't looking good, Lidl aldi ewww.
went in a Lidl today..
no bread
no b/beans
no mushrooms
no oven chips

just left my trolley and walked out, they can keep the quid.. (_;)
3 Likes #12
mutley1
oh no. i feel sorry for anyone who gets the chop. :(

Indeed, my heart goes out to jewish babies everywhere. But i'm confused as to what that has to do with Tesco job losses.
1 Like #13
CookinBat
MrMan2011
toshapetriji
Tesco has been abusing their market position for years, Lidl and Aldi are the future.

The future isn't looking good, Lidl aldi ewww.
went in a Lidl today..
no bread
no b/beans
no mushrooms
no oven chips

just left my trolley and walked out, they can keep the quid.. (_;)

Remind me never to come to yours for dinner (_;)
1 Like #14
toshapetriji
Tesco has been abusing their market position for years, Lidl and Aldi are the future.

then they might want to open more stores, never seen an aldi in my life and have only been in 1 little lidl once which was crap, it reminded me of netto and was more expensive then asda.
#15
Reduce cost base is the way all companies will be moving forward over the coming years, but sadly not just reducing jobs moving them off shore to cheaper countries and already seeing countries where jobs were moved to year ago having them moved to even cheaper places. We all want everything cheaper and only so much you can push out of the suppliers.

However never found tesco cheap even before the likes of lidl appeared.
1 Like #16
CookinBat
MrMan2011
toshapetriji
Tesco has been abusing their market position for years, Lidl and Aldi are the future.


The future isn't looking good, Lidl aldi ewww.

went in a Lidl today..
no bread
no b/beans
no mushrooms
no oven chips

just left my trolley and walked out, they can keep the quid.. (_;)



Same here, no bread, no fresh milk, freezers almost empty, it has never happened before.

I was forced to use Tesco, what a dreadful experience that was.
banned#17
sounds good if we get better deals.

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