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Home Business and Economics Business

Tesco profits to hit £2.6 billion as 1,600 jobs at supermarket chain at risk

Supermarket staff were on the frontline during the pandemic ensuring people could get access to food and other essentials.

Joe Mellor by Joe Mellor
2022-02-01 11:05
in Business
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Tesco has announced changes to overnight roles at a number of supermarkets and petrol station stores which will put more than 1,400 workers at risk of redundancy.

It comes as Tesco said it had defied rising inflation and supply chain issues to ensure customers had a great Christmas, something reflected in booming sales.

Sales were well up on the pre-pandemic period and slightly up on a year ago, when there was panic buying and a lockdown that saw Christmas effectively cancelled for many.

However, the retailer confirmed on Monday that it plans to close its Jack’s discount supermarket arm, with seven stores shutting for good and the remaining six becoming Tesco shops.

It said the combined changes will put around 1,600 workers at risk.

BREAKING: Tesco said 1,600 jobs were at risk as it announced a further round of restructuring across its store network.

Full story: https://t.co/rasNQ0T5kY

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— Sky News (@SkyNews) February 1, 2022

On Tuesday, the supermarket giant said the vast majority of these redundancies would be a result of changing overnight staffing structures at many shops.

The retailer will remove overnight stocking in 36 large stores, 49 convenience stores and also convert 36 petrol stations to be pay-at-pump only during overnight hours.

Tesco said it has made the changes after moving overnight shelf-stacking to the daytime in some stores.

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On Monday, Tesco also revealed it is closing meat, fish and deli counters in 317 stores.

It is understood that this move will also affect hundreds of shop workers.

Tesco stressed that these employees will all be offered alternative jobs and did not include them in the 1,600 figure.

Face-paced market

Tesco UK and Republic of Ireland chief executive Jason Tarry said: “We operate in a highly competitive and fast-paced market, and our customers are shopping differently, especially since the start of the pandemic.

“We are always looking at how we can run our business as simply and efficiently as possible, so that we can reinvest in the things that matter most to customers.

“The changes we are announcing today will help us do this.

“Our priority now is to support our impacted colleagues through these changes and, wherever possible, find them alternative roles within our business.”

Tesco said it is aiming to redeploy all affected staff, and highlighted 3,000 vacancies across its operations.

The restructuring moves come despite the company telling shareholders last month that it expects to post record profits of more than £2.6 billion for the current financial year.

Tesco is among the grocery retailers that flourished during the pandemic as customers spent more time at home.

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