
The largest British supermarket chain Tesco intends to reduce about 400 years in its stores and centers, pursuing to save and increase efficiency, which will allow further investment in the growth of
the company.
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Increasing costs hit British companies. Removals group at Tesco
Decision Tesco inscribes in a wide market trend – competitive chain Sainsbury’s announced in last week plans to reduce over 3 000 jobs,
British enterprises, especially those employing large numbers of workers, are struggling this year with increasing costs of running their operations. Influence on this has been the budget law of the new Government of the Labor Party, which in October raised the contribution to social insurance for employers and the minimum wage.
“We have started discussions with employees about planned changes in shops and centers. These concern include changing the model of functioning bakery in some stores and restructuring management in Tesco Mobile stores” – informed the Tesco chain.
In total these changes will cause the elimination of about 400 stations. The company has indicated however, that it will attempt to find alternative employment for employees, stating, that it currently has about 1 000 facilities in different areas of operation.
In early January Tesco reported projections on annual profit, reporting an increase in sales in Great Britain of 4.1% in the key Christmas period. Thanks to this the network has gained a larger share in the market, ahead of the competition.
Under Director General Ken Murphy the company has
benefited from activities to improve quality and value of products, increase innovation and improve service to customers.
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Uncertainty in the retail market. Investors unfriendly
Despite good performance, analysts are paying attention to uncertain situation in the industry. The investment platform AJ Bell warned this month, that investors have lost confidence in the retail sector. Indicates this fact, that thesharesof11of20Britishtradingcompaniesfellafterthepublicationofsalesresultsintheholidayperiod.
.