British retailer Tesco will fire up to 15 thousand employees


Tesco PlC, UK's largest retailer, plans to close fish, meat and cooking departments in 732 stores. The company will replace part of the sellers for vending machines and go to the frozen dough instead of that prepared on the spot. Changes will lead to a reduction of 15 thousand jobs, the Daily Mail reports, citing sources. Sources believe that such measures may adversely affect the company. Buyers simply prefer to go to other stores. The only positive effect of such measures is the possible growth of profits in the short term. German retailer Kaufhof has already made a decision to reduce jobs. The company will cut staff by 2.6 thousand jobs. Tesco shares fell 1% during recent trading. The retailer’s capitalization grew by 17% from the beginning of 2019 to $29 billion.

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