Asda is mandating head office staff to work on site at least three days a week, while also announcing job cuts to streamline operations and stabilize its market position.
The changes, sent in an internal email by interim chief executive Lord Rose, affect more than 5,000 employees in Leeds and Leicester, from January 2025.
Since Asda’s £6.8bn sale to the Issa brothers and TDR Capital in 2021, the supermarket’s market share has fallen from 14.6% to 12.6%, losing ground to Tesco and Sainsbury’s. The decision to reduce remote working brings Asda in line with its competitors and aims to foster a more collaborative and responsive working culture.
In addition to the shift in its business policy, Asda will abolish some head office roles in order to “remove duplication and simplify structures”, although the retailer did not specify the number of positions affected.
Lord Rose, who took over the interim leadership after Mohsin Issa stepped down, aims to revitalize Asda’s performance with the support of TDR partner Rob Hattrell. The ongoing search for a CEO, led by recruitment firm Spencer Stewart, remains ongoing, although the role presents challenges in attracting candidates given Asda’s current performance difficulties.
Comments are closed, but trackbacks and pingbacks are open.