Tesco was originally founded in 1919 and is now the UK's largest non-food retailer. It is operating in 14 markets across Europe, Asia and North America. It has many outlets including 'Extra', 'Superstores', 'Metro', 'Express' and 'Homeplus'.
From paying less than the Big4 when they started in the UK, the previous CEO said recently Lidl would Pay MORE than everybody else - but the Big4 declined to match his offer -they could argue their total wage package was equal to this offer, but have said nothing & hung Lidl out to dry ,committed to a hefty rise in the wages bill.
I think that most of the posters that are posting remarks about the managers and team leaders need to understand that they are people with families and bills to pay. Also the comments suggest they don't understand these leadership roles. Like all organisations you have to streamline in face of eroding margins however there are thousand of great people left to move the company forward. So to clarify it's both team leaders and managers losing there jobs.
With the pension deficit expected to expand by a couple of £Bn I expect that Tesco will be adding more to the payments at the next review which will stop any resumption of dividends however much I would like them to restart.
They did some fiddling with the accounts (legally) to reduce the deficit last time but hopefully this new amount has been factored in, well it has by me but sometimes its a shock for the media. I suppose the good news is that at some point the low rates will have… Read More
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