Asda to axe managers after Christmas disaster [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The troubled supermarket is preparing to axe more than 80 managers and dozens of warehouse staff in its latest attempt to cut costs. It signals growing pressure on the retail giant, which has so far failed to reverse its fortunes and continues to lose ground to rivals such as Tesco Redundancy negotiations will now take place to finalise how many employees will leave Asda, in a move that is likely to dampen morale further across the business. The cuts are expected to take place across a number of its major distribution centres, with plans to reduce the number of staff dealing with deliveries across its larger warehouses. Asda said logistics staff in Yorkshire had been placed at risk under plans to outsource some parcel operations to delivery giant Evri. It would come as the latest in a series of job cuts across the business over the past 18 months, spearheaded by Allan Leighton, the chairman A large group of in-store managers were made redundant in July as part of attempts
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