Tesco Ireland creates money saving unit

Tesco in Ireland has established a unit to identify areas in which it can save money. The unit, known as Scale, is currently considering between 200 to 300 redundancies in the company’s purchasing, strategy and information technology sectors. However, a spokesperson for the retailer said: "No decision about cost containing measures has been made." Tesco has also put a number of Irish properties on the market in an effort raise more than EUR210 million (USD302 million)  through sale and leaseback deals. The retailer is currently hoping to receive offers in excess of EUR60 million (USD86.34 million) for a store at Golden Sands shopping centre in Athlone, EUR35 million (USD50.36 million) for a store at the Artane Castle centre in Dublin and EUR116 million (USD166.93 million) for four other stores. Meanwhile, in order to benefit from the weakness of sterling, Tesco has begun importing more of its supplies directly from Britain.

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