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Tesco Malaysia Lays Off 600 Employees

August 24, 2016: 12:00 AM EST
Tesco Stores (M) Sdn Bhd is cutting its workforce in Malaysia by about 600 employees. In March 2016, 130 of the hypermarket operator's headquarters employees opted to avail themselves of a voluntary separation scheme. According to the company, the layoffs are part of its turnaround strategy and efforts to cut its losses.
Vasantha Ganesan , "Tesco cuts about 600 jobs in Malaysia", The Edge Markets, August 24, 2016, © The Edge Communications
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