Forum > Stores

End of year results. Hope that's not bad news on the job front.

(1/7) > >>

Vinny1985:
Well not the best of results for the end if the year. I hope after all the hard work we have all put in they don't start making 1000s redundant. But this is tesco

kaled78:
as usual they talk about all the positives,then say at the end we are down as a group,the sooner they off load tesco bank and the loss making europe stores the better

lordadmiral:
yeap results are f***ed up.  Over 7% rise of sale brought nearly 20% profit drop, bravo clap cla clap clap clap :thumbup:. Hiring all those extra people due covid wasnt worth a single penny. If i had extra £5p/h to do OT i would work the whole f****ng year with time off just for hols, And i would be cheaper than new starters and twice more productive. Such performance (not) means that company will try to save some money. Not mentioning that share price droped again.

Morris999:
It’s not as simple as saying the company’s profits are down due to hiring all the temporary colleagues throughout COVID, and they weren’t worth a single penny just because the profits are down.

Like I said last April/may COVID has cost Tesco and will continue to cost a small fortune and the increased sales were never going to offset the cost.

Tesco has had to pay out for face masks, hand sanitizer, additional pos, protective screens around service areas, extra dot com vans, extra colleague costs( colleagues on front door etc), extra guarding costs, 2 colleague bonuses.
They have lost millions on seasonal items(Easter eggs last year is an example) throughout the year.
Then there were over 50k colleagues all either shielding or isolating on full pay for the first 8 weeks of lockdown and then still thousands throughout the rest of the year.
And that’s just off the top of my head.
I’m not defending Tesco, just pointing out that the temporary colleagues were not to blame for the big dip in profits and a lot were definitely worth it and did a better job than some long term serving colleagues.

Prince of Darkness:
I'm not disputing much of the extra Covid costs but in my store during lockdown 1 we were throwing money away on temps who were simply not needed, but were contracted. We could have cut 10% of the store's temps costs for no change in service levels.

Navigation

[0] Message Index

[#] Next page

Go to full version