Tesco cuts jobs at Fresh & Easy
Tesco has cut 50 jobs at its US Fresh and Easy business as the supermarket giant reins back its expansion plans for the loss making chain.
In a statement Tesco said: “In April we said we are taking a more cautious approach to expanding Fresh & Easy, focusing on getting existing stores to profitability. Our central cost base should reflect that more cautious approach.
“With great regret, this means that we have to make redundancies at Fresh & Easy headquarters in California. This is not with a view to a sale or closure of the business. We remain committed to reach profitability and these changes are about helping to achieve that.”
Tesco chief executive Philip Clarke said in April that he did not expect Fresh & Easy to break even until the 2013/2014 financial year, twelve months later than expected.
Fresh & Easy operates around 200 small-format grocery stores in California, Arizona and Nevada and employs 5,200 people.
