Tesco to cut 4,500 jobs across Metro stores

Bloomberg

Tesco plans to cut 4,500 jobs as the supermarket operator slims down hundreds of stores and adds to the mounting toll on employment in UK shopping districts.
Britain’s biggest retailer said it will streamline operations at its 153 medium-size Metro stores in city centers, while reducing opening hours at 134 Express convenience stores.
The moves announced come on top of previous cuts at Tesco’s larger supermarkets, including closing fresh-food counters. Those changes were expected to affect as many as 9,000 of the company’s more than 300,000 workers.
The new round of cuts comes as price competition among UK supermarkets intensifies, with discounters Lidl and Aldi gaining market share, and the threat of a disorderly Brexit hitting the value of the pound and raising the cost of imported food.
Tesco shares traded 1.1 percent lower in London.