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May 24, 2015 5:26 AM ET

Food and Staples Retailing

Company Overview of Tesco Global Áruházak Zrt.

Company Overview

Tesco Global Áruházak Zrt. owns and operates hypermarket and supermarket stores. The company was founded in 1989 and is based in Budaors, Hungary. Tesco Global Áruházak Zrt. operates as a subsidiary of Tesco PLC.

Kinizsi út 1-3

Budaors,  2040

Hungary

Founded in 1989

Phone:

36 20 827 0000

Fax:

36 2 344 9259

Key Executives for Tesco Global Áruházak Zrt.

Tesco Global Áruházak Zrt. does not have any Key Executives recorded.

Tesco Global Áruházak Zrt. Key Developments

Tesco to Lay Off Fewer Workers than Announced

The Hungarian unit of Tesco will not lay off as many employees as announced earlier. The union announced that Tesco is planning to lay off 150-170 workers as opposed to 570 as announced earlier this month. Tesco plans to offer jobs to two-thirds of the employees being made redundant due to shop closures. Some employees opt for the severance pay because they trust they will find a job elsewhere in the industry due to vacancies in the retail sector. The union expects that the talks with the employer could be closed as soon as this week as Tesco has made a very favourable offer.

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