Om paramar mainamar

Tesco offering VSS to HQ staff

KUALA LUMPUR: Tesco Stores (Malaysia) Sdn Bhd is in the midst of offering a Voluntary Separation Scheme (VSS) to staff at its headoffice. Internal documents obtained by Business Times noted that staff have been given time from March 24 until next Tuesday to decide on the offer. “Going forward, our structures will be focused on having fewer and broader jobs. This means, there will be an overall reduction in the size of our head office team,” Tesco Malaysia’s recently-appointed chief executive officer Paul Ritchie said in the memo. “This process is vital for our future success. We need the right skills in the right place to transform the business and lead in the changing world of retail,” he added. Ritchie noted that all Tesco Malaysia’s head office managers and staff would have the opportunity to apply, but he did not indicate whether the offer would be extended to the rest of its staff at other offices or branches nationwide. Ritchie, when contacted, said the VSS was just part of a bigger plan to transform the company’s business and withstand the ever-changing retail landscape. “We have recently briefed our colleagues on a major transformation programme, which is designed to improve the performance of Tesco Malaysia,” he said in a written response to Business Times. “The first step is the adoption of a leaner head office structure and colleagues have been briefed on what this means for them and their roles. The transformation that we are undertaking is not only timely but necessary to ensure the sustainability and competitiveness of the business for the long term.” He noted that the firm was unable to confirm the exact number of staff who would be affected as the process was still ongoing. Tesco Malaysia is a joint venture founded in 2002 between the United Kingdom-based Tesco PLC and conglomerate Sime Darby Bhd. It currently employs 8,000 staff and operates 55 stores nationwide through two formats, namely hypermarkets and Extra. Its parent, Tesco PLC, is one of the world’s largest international retailers with operations in 12 countries and is currently employing over 480,000 staff worldwide. British media had in February, however, reported that the group was considering cutting store staff by 39,000 over the next three years, as it attempted to reverse a slump in profits. The potential job losses, according to the reports, would be the equivalent of Tesco PLC shedding one in six employees, either by cutting jobs or reducing hours. These reports closely follow the group’s announcement of statutory loss before tax of £6.4 billion (RM35.97 billion) for the 2014 financial year ended February 28 last year. The group’s Asian sales declined by 4.1 per cent mostly due to foreign exchange, while its trading performance in Malaysia has been impacted by protests against some Western-owned businesses and a challenging economic environment.

THANK YOU GOD, PRAISE TO THE LORD, BLESS YOU GOD – that I still has a job.
I heard that Boss kena…Wendy also…Tommy is safe…Christine is also safe…but what about Atticus? Juan Valentine? Juan leh? Haakon ok?