Gifts Today magazine

Tesco to cut 10,000 jobs in latest blow to giant

Tesco is looking to slim down the company by cutting around 10,000 jobs across shops and head office.

Up to 6,000 jobs will go across the supermarket’s head office and the 43 shops that are closing, while cutting management will account for the rest of the losses, according to The Sunday Telegraph.

Tesco has previously announced that it would reduce its workforce by 2,000 because of shop closures and making its head office smaller, but the removal of middle managers is a new development.

The giant grocer needs to cut costs after it revealed in September it had overstated profits by £263m.

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