Tesco undergoes £1.5 billion pay-cut purge

Tesco, Britain’s biggest supermarket is reportedly looking at cutting 15,000 jobs and closing the meat, fish and deli counters across the country. The purge is part of cost-saving changes set to save £1.5 billion. Reports claim that the bakeries will be overhauled and will instead provide frozen products as opposed to fresh doughs. Furthermore, canteens are to be replaced with vending machines.

There are 732 Tesco stores across Britain, and according to reports, the changes could see up to 15,000 jobs lost. Since 2014 when chief executive Dave Lewis joined Tesco, he has already axed 10,000 roles. The specific modifications, including redundancy negotiations, are supposed to be made clear to staff members as of next week.