Marketers face axe in Tesco jobs cull

Many of Tesco’s senior marketers are under threat as part of new boss Dave Lewis’ plans to slash head office cuts, following claims that up to 2,000 jobs are at risk.
According to Sky News, around 120 business unit leaders have commenced individual talks with hundreds of directors at the retailer’s main offices at Cheshunt and Welwyn Garden City and senior employees at commercial and category director level are among those in the firing line.
Sky News cited insider sources, claiming that 2,000 of the current 8,000 head office jobs across the two sites were to go. A restructuring of central overheads is expected to save £250m a year.
The jobs cull is part of Lewis’ strategy to slash head office costs by 30%, with the Cheshunt HQ due to shut. Tesco has also named the 43 stores it will axe by April, which will lead to a further 2,000 jobs being axed.
The move comes as the sell-off of DunnHumby gathers pace. At least three US private equity firms – Advent International, General Atlantic Partners and Kohlberg Kravis Roberts – are thought to be in the running, with WPP and Clayton, Dubilier & Rice – which is advised by former Tesco chief Sir Terry Leahy, the man who launched the Clubcard scheme – also eyeing up the business.
Earlier this week it was revealed that former Nectar and AirMiles chief Sir Keith Mills has been approached by a number of companies to spearhead their bids for the data company, estimated to be worth up to £2bn.