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.