Tesco Plc, Britain's biggest retailer, plans to open new stores and create 20,000 new jobs in the UK over the next two years as it battles back from a profit warning earlier this year and seeks to tackle a drop in UK market share.
Britain's biggest private sector employer said as part of the plan it would update existing stores, open new outlets and would look to make a "significant investment" in customer service. It also said it would look to take on unemployed young people and expand its apprenticeship programme to provide 10,000 apprenticeships. "We will invest in more staff on the sales floor at busy times, (provide) greater expertise and help in the crucial areas of fresh food, and enhanced quality and service across our stores at all times," Richard Brasher, Tesco's UK chief executive, said in a statement. "With youth unemployment at record levels, we're determined to target many of our new jobs at young people currently out of work, so that in this difficult jobs market those who need help the most will get it." Britain's unemployment rate runs at 8.4 percent, data from the Office for National Statistics showed last month.