Tesco axe thousands of jobs at HQ and flog Blinkbox
Not only are Tesco closing loads of stores and losing the staff that worked there, there's also a culling going on at their head office. This is going to involve job losses going into the thousands as the company look to rectify the mess that the new bosses inherited.
Sky News have reported that retail giant will start telling senior staff that there's going to be some changes at the Tesco HQ, which currently employs around 8,000 members of staff.
Dave Lewis, Tesco’s new gaffer, had previously said that as many as 30% of the head office cost-base could be removed, and while that won't just focus on sacking people, it looks like 2,000 jobs will be going at the very least.
With the Serious Fraud Office investigating Tesco's £263m accountancy blackhole and 9 executives suspended, this is a troubling time for the supermarket.
Some money is coming back their way, as they've confirmed that TalkTalk is going to buy the Blinkbox Movies streaming service off them. TalkTalk will be getting it for a relative snip though, paying just £5m for it. Tesco's broadband service has also been thrown into to the deal.
Tesco's Blinkbox Books service has also found a buyer in ebook company Kobo. Customers of both the ebook and movie services will be integrated to the new companies in the coming weeks. This all closes Tesco's chapter with Blinkbox, after they sold the music arm to Guvera earlier in the week.
A Blinkbox spokesperson said: "Those who access Blinkbox Books on a Hudl will be able to install the free Kobo reading app on their device. We will be communicating the timelines for the transition in due course." An email will be sent to customers telling them what to do, also. The bad news is that Tesco customers with unspent credit on their accounts won't be getting it transferred to Kobo.
Things are being shook-up in Tescoville.