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Tesco to cull senior management roles

Tesco Plc (TSCO) plans to cut around 50 senior management positions as part of its push to inject more digital and multi-channel skills into the struggling grocer, a person familiar with the matter said.

The senior management members are just below board or executive-board level, the person said.

The exits at Europe’s largest grocer will be across all departments at the Cheshunt, England-based head office including marketing, the person said.

Tom Hoskin, a spokesman for Tesco, declined to comment. Retail Week earlier reported on the company’s intentions.

Chief Executive Officer Philip Clarke has vowed to turn the retailer into a business with multiple selling platforms as part of his 1 billion-pound ($1.5 billion) turnaround plan. This year, he has hired former Amazon executive Robin Terrell as multi-channel director and promoted Blinkbox founder Michael Comish as the group digital officer. Tesco reported a 1 percent drop in U.K. same-store sales in June, the weakest performance in a year.

Source : Sarah Shannon – Bloomberg

31 July 2013
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