Tesco to cut jobs at distribution centre, reports say

Supermarket giant Tesco is cutting around 2,000 jobs across its UK distribution centres, it was reported Tuesday.

Supermarket giant Tesco is cutting around 2,000 jobs across its UK distribution centres, it was reported Tuesday.

The retailer said the move to close some of its centres and open others follows a review of its distribution network.

Those who lose their positions will be offered another job within the company it said, in including a job at one of its two new confirmed distribution sites in Reading and Dagenham.

The group was reported as saying the plans will "give our customers a better service and improve working conditions for our colleagues".

Tesco's share price fell 2.25% to 365.55p by 14:35.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021