NEW YORK: Tesco PLC, a British multinational grocery and general merchandise retailer, is set to close 43 stores across the UK as part of the retailer’s cost-cutting measures.
More than half of the closures will be express convenience shops and up to 2,000 jobs are expected to be affected. Staff at the named stores is being informed about the changes at present.
New chief executive Dave Lewis revealed the plans earlier this month as part of his shake-up of the supermarket chain and the plans are to be fully implemented by April.
Tesco will also abandon its headquarters in Cheshunt in 2016 after more than 40 years, and 49 stores in the pipeline are being cancelled.
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