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    Tesco Cuts Jobs at Fresh & Easy Chain

    Company insists layoffs do not signal an exit from the United States.
     

    EL SEGUNDO, Calif. -- Layoffs have hit Fresh & Easy's California headquarters, but its parent company, Tesco plc, insists the move does not mean its U.S. retail arm is closing up shop.

    A Tesco spokesman told Reuters that roughly 50 jobs would be lost. Fresh & Easy currently employs just more than 5,000 people.

    "In April, we said we are taking a more cautious approach to expanding Fresh & Easy, focusing on getting existing stores to profitability," the company said in a statement. "Our central cost base should reflect that more cautious approach. With great regret, this means that we have to make redundancies at Fresh & Easy headquarters in California. This is not with a view to a sale or closure of the business. We remain committed to reach profitability and these changes are about helping to achieve that."

    Earlier this year, Tesco predicted that Fresh & Easy would break even by the end of the year. However, two months later, Tesco pushed the breakeven date back to the 2013-2014 calendar year, as CSNews Online previously reported. Fresh & Easy launched in 2007.

     

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