4500 Tesco employees to lose jobs as company simplifies store operations

The biggest supermarket of the United Kingdom, Tesco has announced that it will simplify store operations at its 153 metro stores that will lead to 4500 of its employees to their lose jobs. The changes in the Metro stores will be focused on better tailoring them to how our customers shop. The Metro format was originally designed for larger, weekly shops, but today nearly 70% of customers use them as convenience stores, buying food for that day.

The Chief executive Jason Tarry said, "In a challenging, evolving retail environment, with increasing cost pressures, we have to continue to review the way we run our stores to ensure we reflect the way our customers are shopping and do so in the most efficient way. We do not take any decision which impacts colleagues lightly, but have to make sure we remain relevant for customers and operate a sustainable business now and in the future."

The company said in a statement on its website, "Our priority now is to support affected colleagues, helping find alternative roles within Tesco for as many as possible."

The British multinational groceries and general merchandise retailer is the third-largest retailer in the world measured by gross revenues and ninth-largest retailer in the world measured by revenues. It has shops in seven countries across Asia and Europe and is the market leader of groceries in the UK (where it has a market share of around 28.4%), Ireland, Hungary and Thailand.