Beleaguered retailer Tesco has announced plans to cut nearly one-third of its operating costs, as the scandal-hit company attempts to restore its erstwhile appeal to investors.
And it has also been announced that up to 350 night staff in Irish outlets will take redundancy, as Tesco moves more staff to daytime duties.
A spokesperson for Tesco Ireland stated that the company is trying to put more staff on duty during the stores’ busiest periods. The redundancy move will incur a net loss of 90 jobs.
Tesco chief executive Dave Lewis said today that the company’s aiming to cut 30% from its overall overheads expenditure.
Part of this plan includes closing down 43 outlets in the UK and abandon plans to build 49 new stores.