Tesco cuts jobs at US venture Fresh and Easy

Supermarket titan Tesco has slashed 50 jobs at its US subsidiary, Fresh and Easy, following the decision by Tesco Chief Executive Philip Clarke to limit the number of new store openings at its loss making US arm while it turns its existing stores to a profit.

Supermarket titan Tesco has slashed 50 jobs at its US subsidiary, Fresh and Easy, following the decision by Tesco Chief Executive Philip Clarke to limit the number of new store openings at its loss making US arm while it turns its existing stores to a profit.

Fresh & Easy, which employs around 5,200 people, said back in April that it plans to open 230, rather than 300, stores by February of next year. As a result, it expects to break-even 12 months later than expected, in February 2014.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.