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Deep jobs cut by Tesco seen as risky

Published 01/29/2019, 01:44 PM
© Reuters.  Deep jobs cut by Tesco seen as risky
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  • Tesco (LON:TSCO)'s (OTCPK:TSCDF, OTCPK:TSCDY) announcement of broad job cuts is creating some waves in the U.K.
  • The company plans to eliminate up to 9K jobs (about 50% which could be shifted elsewhere in the company) as part of a broader restructuring.
  • Overall, the anxiety around Brexit has retailers in the U.K. scrambling and facing a predicament. "Cut too deep, and the damage inflicted on the business can be even more devastating than Brexit-induced nervousness," warns Bloomberg's Andrea Felsted.
  • Now read: J.C. Penney: Holiday Results Were Negative, But Could Have Been Worse


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