Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Tesco, the UK-based multinational supermarket chain has announced plans to cut 1,816 jobs as part of the restructuring of its in store bakeries across the UK. According to the plans, 58 bakeries will only ‘finish’ pre-baked and frozen products, while another 257 in store bakeries remain unchanged.
A representative of the company said the restructuring was necessary because of declining sales of traditional loaves of bread.
The national officer for Usdaw, the main trade union representing Tesco staff, said the news of job cuts was "devastating" and added that it was going to be very difficult for some of the affected staff to find skilled roles that were similar to their current ones.
Tesco is Britain’s largest supermarket chain, which has more than 3,400 stores and employs more than 300,000 people in the UK. The current restructuring plans come after previous restructurings took place in August (4,500 jobs lost) and January (9,000 jobs lost) 2019.
Eurofound (2020), Tesco, Internal restructuring in United Kingdom, factsheet number 101148, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101148.