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Tesco to cut 4,500 jobs

Tesco PLC said Aug. 5 that the company will cut 4,500 jobs as the retailer plans to simplify operations at its 153 Metro stores and Express stores.

"The Metro format was originally designed for larger weekly shops, but today nearly 70% of customers use them as convenience stores, buying food for that day," said the British supermarket chain.

Metro stores will have fewer products stored in back rooms, while more stock will be put on the shop floor. The stores will have a leaner management structure that simplifies the administrative process.

Tesco will also reduce working hours at 134 of its 1,750 Express stores, where customer footfall is low.

"In a challenging, evolving retail environment, with increasing cost pressures, we have to continue to review the way we run our stores to ensure we reflect the way our customers are shopping and do so in the most efficient way," said Tesco's U.K. and ROI CEO Jason Tarry.

In January, Tesco said it could reduce 9,000 jobs as part of simplifying operations at its stores and its head office.