Tesco to cut jobs at distribution centre, reports say



LONDON (ShareCast) - Supermarket giant Tesco (Other OTC: TSCDY - news) is cutting around 2,000 jobs across its UK distribution centres, it was reported Tuesday.

The retailer said the move to close some of its centres and open others follows a review of its distribution network.

Those who lose their positions will be offered another job within the company it said, in including a job at one of its two new confirmed distribution sites in Reading and Dagenham.

The group was reported as saying the plans will "give our customers a better service and improve working conditions for our colleagues".

Tesco's share price fell 2.25% to 365.55p by 14:35.