Tesco Plans to Boost U.K. Workforce: Report

NEW YORK ( TheStreet) -- Tesco PLC (TSCDY.PK) plans to announce Monday that it aims to create 20,000 new jobs in the U.K. over the next two years, according to a published media report.

The report, published on The Wall Street Journal's Web site, said Tesco, plans to expand its workforce by the equivalent of almost 7% of its existing U.K. levels. It will do this by opening new stores and upgrading existing ones, the report said.

The company plans to add to the number of employees in fresh produce, meat and bakery counters in stores, the report said, citing a company spokeswoman.

Tesco is the U.K.'s largest supermarket company. The hiring plans are likely to come as welcome news in the U.K., where the unemployment rate recently hit a 16-year high of 8.4%.

Tesco PLC's U.S.-listed ADRs closed Friday down 15 cents at $15.27.

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This article was written by a staff member of TheStreet.

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