Tesco to cut 400 jobs as it looks to simplify business

(Sharecast News) - Tesco said on Wednesday that it plans to cut 400 jobs as it looks to simplify the business. The move will affect head office management roles and managers at Tesco Mobile stores. Staff in the supermarket chain's in-store bakeries will also be affected.

Chief executive Matthew Barnes said: "These are difficult decisions affecting our colleagues, but we believe they are necessary to enable us to invest in what matters most to our customers.

"Our priority is to support impacted colleagues and we will do everything we can to help them find alternative roles within our business. Today, we have almost 1,000 vacancies available."

Last week, Sainsbury's and Morrisons also announced job cuts.

Morrisons said it was axing more than 200 jobs as part of a cost-cutting exercise as it faces rising costs linked to the changes announced in the Autumn Budget.

Following a review of the supermarket chain's people structure, Morrisons said it was removing the roles of regional people manager, store people manager and case specialist.

Employees in these roles are being placed at risk of redundancy, and now face a 45-day consultation process.

Meanwhile, Sainsbury's said it would be cutting 3,000 jobs, including a 20% reduction of senior management roles, as it closes its remaining patisserie, hot food and pizza counters.

As part of its plans to simplify the business, the supermarket retailer will also be closing its 61 remaining cafes.