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Topic Originator: donj
Date: Fri 30 Aug 22:13
Wonder just how many Tesco employees are going in their clear-out.Probably around 40% in the Bay store but it is every metro store getting hit.Must be thousands losing their jobs in the next few days.
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Topic Originator: PARrot
Date: Sun 1 Sep 13:09
Absolutely no idea what you are talking about. It's a good idea to put a link to a story with posts like this.
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Topic Originator: PARrot
Date: Sun 1 Sep 14:03
Heres the bit that gets me most....how many low wage workers in Tesco are on tax credits?
If Tesco staff contribute to earning a £2B why is the taxpayer subsidising their wages.
How the F do you need to cut costs when you profit £2B in a year???
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Topic Originator: DBP
Date: Sun 1 Sep 14:21
Just for clarity, the article gives the number for operating profit and not net profit as suggested
Post Edited (Sun 01 Sep 14:28)
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Topic Originator: Thaipar
Date: Sun 1 Sep 14:59
Not sure if that includes worldwide stores. Here they pay on average about 10$ USD per day. A lot of the goods u see in the UK come from Thailand sourced products for Tesco. Living costs in Thailand have went up significantly in the last few years but staff wages haven't. Tesco are no better over here than they are in the UK.
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Topic Originator: ipswichpar
Date: Sun 1 Sep 15:00
I'm not getting into an argument about accountancy treatment, but I'd understand your point if I had conflated gross and net profit.
We could use a baseline of 1.7Bn of pretax profits if you would prefer? I think my point still stands.....
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Topic Originator: donj
Date: Sun 1 Sep 15:15
Basically 4500 staff from 153 metro stores going so roughly 30 per store.I know that 29 already been told so far in the Bay with meetings still to come with staff tomorrow.
Link below.
https://www.bbc.co.uk/news/business-49239916
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Topic Originator: The One Who Knocks
Date: Sun 1 Sep 15:30
Ipswich, if you or anyone else has a private pension then there is a very good chance you indirectly own or have owned shares in tesco. The managers of those funds will be pressuring the tesco bod to maximise profits so they can give greater returns to those pension pots.
And although my eyes were open
They just might as well be closed
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Topic Originator: DBP
Date: Sun 1 Sep 15:36
I've no idea how much tax they pay or if they have loans for fridges/freezers/warehouse machinery/lorries/etc that all need to be serviced/deducted?
I also believe operating profit is against core business operations only, so not sure how much is spent on developing future things like smart shops, data analytics, next gen self scanning etc) or any non core business ventures or investments which will all change that number?
Not trying to be pedantic but just saying the number give in the article isn't the bottom line which could look quite different
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Topic Originator: ipswichpar
Date: Sun 1 Sep 15:42
Understand DBP, and I know that the sector margins are ridiculously thin.
Yep TOWK, I'm sure we are all benefiting from and/or subject to those forces.
It just pisses me off that folk act like this and the losers are the folk who would much rather keep a job, many of whom who will have been knocking their pan in.
What is also worrying is the number of companies that are making significant job reductions....clearly nobody is expecting a buoyant UK in the near term.
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Topic Originator: The One Who Knocks
Date: Sun 1 Sep 18:14
Don't know about that in terms of the grocery industry. Everybody has to buy food and drink. Tesco just got their business model wrong. Look at all the Aldi and Lidl stores that have opened over the past 10 years with many more scheduled to be built.
And although my eyes were open
They just might as well be closed
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Topic Originator: jake89
Date: Sun 1 Sep 18:17
Tesco are parasites. A few years ago when they were on top of their game they were happily land banking to avoid investments in towns that may affect their own stores. They also built their massive superstores and put a lot of independent and smaller business out of business.
Oh, but they bring jobs cried the councillors. Look at them now, though. The small stores have always been a joke. More expensive than the bigger stores so effectively punishing older and poorer people for not having the ability to get up to one of their big stores.
Hopefully the small stores will be picked up by the likes of co-op and staff retained.
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Topic Originator: PARrot
Date: Sun 1 Sep 20:25
Quote:
jake89, Sun 1 Sep 18:17
Tesco are parasites. A few years ago when they were on top of their game they were happily land banking to avoid investments in towns that may affect their own stores. They also built their massive superstores and put a lot of independent and smaller business out of business.
Oh, but they bring jobs cried the councillors. Look at them now, though. The small stores have always been a joke. More expensive than the bigger stores so effectively punishing older and poorer people for not having the ability to get up to one of their big stores.
Hopefully the small stores will be picked up by the likes of co-op and staff retained.
The coop are a helluva lot dearer than tesco.
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Topic Originator: Andrew283
Date: Sun 1 Sep 20:31
Co-op is about as expensive as M&S for me in Dundee. Not a chance I'm shopping there. Asda is by far the cheapest for a big shop, but that's way up at the far en dog the Kingsway. Lidl/Aldi are brilliant for what you can get though
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Topic Originator: JTH123
Date: Sun 1 Sep 20:36
The co-ops are just the same as the small Tescos and other convenience stores. They sell 75% booze, sweets and crisps at premium prices.
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Topic Originator: donj
Date: Sun 1 Sep 20:55
Glad nobody feels sorry for the people who have lost their jobs as it's better to slag tesco.
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Topic Originator: JTH123
Date: Sun 1 Sep 21:55
Feel completely sorry for them. It's bad enough being without a job because your company folded. It must be much worse to be punted so they can make even more money.
I was commenting on the comparison between Tesco's convenience stores and others.
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Topic Originator: LochgellyAlbert
Date: Mon 2 Sep 00:39
They are all bracing themselves for the equal pay settlement, Asdas are the test case and are on their 3 appeal, Supreme Court making the decision.
5 supermarket chains going to have big payouts if the case wins.
Post Edited (Mon 02 Sep 00:40)
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Topic Originator: Barnstoneworth
Date: Mon 2 Sep 19:47
In Rosyth store today, told 31 jobs going. did not see that coming, some staff been there 20 plus years. Tragic
.
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Topic Originator: jake89
Date: Mon 2 Sep 19:59
I thought the Rosyth one might get turned into a Jack's (Tesco's answer to Aldi).
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Topic Originator: donj
Date: Mon 2 Sep 21:34
Same if not more going in the Bay.I suppose they at least get redundancy packages,although jobs hard to find nowadays.
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Topic Originator: Playup_Pompey
Date: Tue 3 Sep 09:49
so are they closing the stores or just reducing staff? Cant imagine more than 30 staff in that rosyth store?
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Topic Originator: jake89
Date: Tue 3 Sep 11:05
I assumed closures but just read that it's efficiencies.
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Topic Originator: widtink
Date: Tue 3 Sep 11:12
I read the BBC article on this last week and it never mentioned any closures of metro stores... Only cost cutting by shedding workers at metro stores. They (Tesco) reckon it will save them 1.5 billion.
Also read that they were reducing the opening hours of express stores.
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