Asda axes jobs and orders staff back to the office three days a week [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The retail giant announced the change in an internal email on Tuesday, which will apply to more than 5,000 head office workers across three different locations in Leeds and Leicester. It comes just weeks after Mohsin Issa stepped down from running the business , with former M&S chief executive Lord Rose taking the helm as his interim replacement. In a note to workers, Lord Rose said Asda was making office attendance compulsory at the Asda House and Britannia House sites in Leeds, as well as the George House site in Leicester, to strengthen the company's position for next year. The move comes after Asda has suffered an alarming slump in sales. Since its £6.8bn sale to the billionaire Issa brothers and TDR Capital in February 2021, Asda's market share has fallen from 14.6pc to 12.6pc, with the business losing ground to the likes of Tesco and Sainsbury's. As well as watering down its home-working policy, which will take effect from January 2025, Lord Rose also confirmed that B
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