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Tesco PlC, UK's largest retailer, plans to close fish, meat and cooking departments in 732 stores. The company will replace part of the sellers for vending machines and go to the frozen dough instead of that prepared on the spot. Changes will lead to a reduction of 15 thousand jobs, the Daily Mail reports, citing sources. Sources believe that such measures may adversely affect the company. Buyers simply prefer to go to other stores. The only positive effect of such measures is the possible growth of profits in the short term. German retailer Kaufhof has already made a decision to reduce jobs. The company will cut staff by 2.6 thousand jobs. Tesco shares fell 1% during recent trading. The retailer’s capitalization grew by 17% from the beginning of 2019 to $29 billion.
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
Great Britain’s economy was seen dropping at its most rapid pace in centuries. This was mainly from the disruptions brought by the virus crisis on demand. However, it has a high chance of recovering from inactivity next quarter as more ...
The breakfast and coffee chain Dunkin’ Brands Group Inc. (DNKN.O) stated on Monday that its franchise operators are planning to hire up to 25,000 employees in light of high demand after the United States reopened the restaurant industry. The ...
Hyatt Hotels Corp. (H.N) announced on Monday that it would terminate 1,300 employees worldwide beginning on June 1. The move comes after a sharp fall in global travel struck the hospitality industry as people stay home to prevent the spread ...
The United States luxury department store chain Neiman Marcus Group (NMG.A) applied for bankruptcy protection in a federal court in Houston on Thursday. In Chapter 11 of the filed document, the retailer company signed an agreement with major ...
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