Tesco set to get rid of hundreds of jobs

Tesco is poised to slash hundreds of jobs from its supermarkets in the latest cost-cutting drive by boss Dave Lewis, the Standard understands.

The grocer is to start consulting with staff as early as this week over potential job losses at store management level.

Lewis, who has led a turnaround of the business since he arrived in 2014, has wielded the axe on more than 10,000 roles so far. He earned the moniker Drastic Dave when cutting costs at Unilever.

The grocer is the latest to make job cuts, joining rivals Asda, Morrisons and Sainsbury’s in overhauling the structure of its stores. Tesco is aiming to make £1.5 billion in cost savings by 2020.

A Tesco spokesman said: “We’re always looking at ways to run our business more simply and efficiently. Whenever we make changes in our business, colleagues are always the first to know.”

Clive Black, a senior analyst at Shore Capital, said: “This is part of an ongoing restructuring model which started a good four, five years ago and it will continue as supermarkets try to cut their cost base.”

Black added that jobs cuts at management level could help fund new jobs on the shop floor to improve customer experience.