Tesco profits double, Tesco axe night teams up and down the country to save a few pennies.
In hard times, wealthy companies shouldn’t seek huge profits. They should pull their horns in and support their customers and the society in which they exist. Just making just enough profit is acceptable, this is not the time for greed and exploiting the public.
“We’re really trying to keep things cheap guys but we keep tripping over these stacks of cash on our way to the computer to set the prices”
Does make you wonder if there’s genuinely a cost of living crisis or if corporate greed is just using recent events to squeeze the last pennies out of people.
But guys, you are forgetting those poor vulnerable, defenceless share holders…..how else are they going to pay for the new yacht or tory party donation
Profits doubled because supermarkets were the only ones open during covid, and they cashed in by selling everything from clothes to garden furniture.
I wonder how much pay rise they gave to their workers. My local Tescos has only 2 manned checkouts and the other 20 or so self service checkouts are manned by 1 person. They run a store on a skeleton crew in order to be “efficient”, but the issue is that now no one in my area wants to work for them.
The local Tesco manager went to the local news to say how no one wants to work anymore, and that people should be grateful.
How much of this profit is down to clubcard prices 😂
It would be a lot more if they didn’t pay 60p over minimum wage. /s
Sounds to me like greedy companies are using the inflation as an excuse to get every last penny out of us.
Companies that are worth this much money do not need to raise prices they choose to and as consumers were left with little choice but to pay.
Prices go up. Quality goes down. I stopped shopping there regularly a while back. Their own brand/fake brand stuff is shite compared to Aldi/Lidl.
So we now live in a time where a warning to the consumers like us is at the same time a reason for the shareholders to have the $$ in their eyes…
Or alternative headline “Tesco shareholders won’t see reduced dividends – prices set to rise to keep them happy despite soaring cost of living”
This makes me question the actual reason for cost of living crisis if I’m being honest, supermarkets and petrol stations raising prices astronomically so customer foots bill and their profits rise so much something doesn’t add up
Lets all blame the cost of living crisis for the ridiculous rise in the cost of shopping when it’s actually supermarket greed that caused this crisis in the first place.
I just quit Tesco as a team manager.
Our new store manager cut pretty much all of the overtime we could offer staff and started expecting people to do even more on top of what they were doing already. Morale hit a major low and everyone was tired and over worked.
As a result the lowest paid members of staff earned even less but were expected to do more for it while the store manager got a nice bonus for being within budget for her overtime hours. And she was hardly ever there because she had moved house and was back and forth a lot. From January to when I quit in March I saw her twice. Granted I did work nights but she didn’t even make an effort to show her presence to our team.
Absolutely despicable management. Corporate greed at its finest. I’m glad to be gone.
No shit. They keep raising their prices. Shows that they’re taking the piss basically like most businesses at the moment. Any excuse to make a bit more money.
According to the article the actual increase in revenue was only 6%, putting Tesco back into profit from a position of losing money.
But that doesn’t rile people up as much as PROFITS DOUBLE!
If everything is getting more expensive then why are their profits going up. Why aren’t their costs rising at the same rate as ours.
This company is a ticking time bomb.
No talent at senior management level.
Their technical infrastructure is a joke – their entire HR function is still managed on paper.
They’ve delivered these results by cutting whatever they can to unsustainable levels. E.g. they cancelled all their professional cleaning contracts for Express stores just weeks into a pandemic (allowing just 15 mins extra staff payroll for cleaning each day)
At the moment they are being carried by a workforce of underpaid, over worked staff & at some point it’s going to come crashing down.
If Tesco’s profits are doubling then inflation isn’t the issue, Tesco is.
THIS IS THE PROOF – all big companies in a so-called “difficult sector” like food/supply chain/oil and gas etc ALL are making a KILLING.
This is the one! I’ve asked before who we can boycott for increasing their prices but making record profits! This is the answer.
Who is in? We can actually do something and make some noise.
I’ve literally just come out of a meeting where my boss tried to justify our company applying extortionate uplift on our customers on cost of living increases. She said ‘just think of us all being in this room and the electricity to keep the lights on’.
Pre-covid my company had lots of locations, and now we have about 5 ‘hubs’. And they are trying to say that this somehow costs them money and they must pass it on to our customers in the NHS.
[deleted]
Facts like this make me feel trapped in an endless loop of doom. What’s the point in life if it’s just about enduring costs to survive. What is life if your only purpose is to endure to ultimately only finance the rich.
The rich can only be rich for so long, once we all run out of money and die.
Corporations said : hey, there’s a war. Let’s hike the prices of everything and say it’s inflation because of the war and show on tv images of dead people. Suckers are so gonna believe that.
Profit!
‘Inflation’ is just companies putting up prices. It’s a decision people make. X
Prices are increasing with inflation but wages are staying pretty much stagnant.. no wonder their profits have doubled…
30 comments
Tesco profits double, Tesco axe night teams up and down the country to save a few pennies.
In hard times, wealthy companies shouldn’t seek huge profits. They should pull their horns in and support their customers and the society in which they exist. Just making just enough profit is acceptable, this is not the time for greed and exploiting the public.
“We’re really trying to keep things cheap guys but we keep tripping over these stacks of cash on our way to the computer to set the prices”
Does make you wonder if there’s genuinely a cost of living crisis or if corporate greed is just using recent events to squeeze the last pennies out of people.
But guys, you are forgetting those poor vulnerable, defenceless share holders…..how else are they going to pay for the new yacht or tory party donation
Profits doubled because supermarkets were the only ones open during covid, and they cashed in by selling everything from clothes to garden furniture.
I wonder how much pay rise they gave to their workers. My local Tescos has only 2 manned checkouts and the other 20 or so self service checkouts are manned by 1 person. They run a store on a skeleton crew in order to be “efficient”, but the issue is that now no one in my area wants to work for them.
The local Tesco manager went to the local news to say how no one wants to work anymore, and that people should be grateful.
How much of this profit is down to clubcard prices 😂
It would be a lot more if they didn’t pay 60p over minimum wage. /s
Sounds to me like greedy companies are using the inflation as an excuse to get every last penny out of us.
Companies that are worth this much money do not need to raise prices they choose to and as consumers were left with little choice but to pay.
Prices go up. Quality goes down. I stopped shopping there regularly a while back. Their own brand/fake brand stuff is shite compared to Aldi/Lidl.
So we now live in a time where a warning to the consumers like us is at the same time a reason for the shareholders to have the $$ in their eyes…
Or alternative headline “Tesco shareholders won’t see reduced dividends – prices set to rise to keep them happy despite soaring cost of living”
This makes me question the actual reason for cost of living crisis if I’m being honest, supermarkets and petrol stations raising prices astronomically so customer foots bill and their profits rise so much something doesn’t add up
Lets all blame the cost of living crisis for the ridiculous rise in the cost of shopping when it’s actually supermarket greed that caused this crisis in the first place.
I just quit Tesco as a team manager.
Our new store manager cut pretty much all of the overtime we could offer staff and started expecting people to do even more on top of what they were doing already. Morale hit a major low and everyone was tired and over worked.
As a result the lowest paid members of staff earned even less but were expected to do more for it while the store manager got a nice bonus for being within budget for her overtime hours. And she was hardly ever there because she had moved house and was back and forth a lot. From January to when I quit in March I saw her twice. Granted I did work nights but she didn’t even make an effort to show her presence to our team.
Absolutely despicable management. Corporate greed at its finest. I’m glad to be gone.
No shit. They keep raising their prices. Shows that they’re taking the piss basically like most businesses at the moment. Any excuse to make a bit more money.
According to the article the actual increase in revenue was only 6%, putting Tesco back into profit from a position of losing money.
But that doesn’t rile people up as much as PROFITS DOUBLE!
If everything is getting more expensive then why are their profits going up. Why aren’t their costs rising at the same rate as ours.
This company is a ticking time bomb.
No talent at senior management level.
Their technical infrastructure is a joke – their entire HR function is still managed on paper.
They’ve delivered these results by cutting whatever they can to unsustainable levels. E.g. they cancelled all their professional cleaning contracts for Express stores just weeks into a pandemic (allowing just 15 mins extra staff payroll for cleaning each day)
At the moment they are being carried by a workforce of underpaid, over worked staff & at some point it’s going to come crashing down.
If Tesco’s profits are doubling then inflation isn’t the issue, Tesco is.
THIS IS THE PROOF – all big companies in a so-called “difficult sector” like food/supply chain/oil and gas etc ALL are making a KILLING.
This is the one! I’ve asked before who we can boycott for increasing their prices but making record profits! This is the answer.
Who is in? We can actually do something and make some noise.
I’ve literally just come out of a meeting where my boss tried to justify our company applying extortionate uplift on our customers on cost of living increases. She said ‘just think of us all being in this room and the electricity to keep the lights on’.
Pre-covid my company had lots of locations, and now we have about 5 ‘hubs’. And they are trying to say that this somehow costs them money and they must pass it on to our customers in the NHS.
[deleted]
Facts like this make me feel trapped in an endless loop of doom. What’s the point in life if it’s just about enduring costs to survive. What is life if your only purpose is to endure to ultimately only finance the rich.
The rich can only be rich for so long, once we all run out of money and die.
Corporations said : hey, there’s a war. Let’s hike the prices of everything and say it’s inflation because of the war and show on tv images of dead people. Suckers are so gonna believe that.
Profit!
‘Inflation’ is just companies putting up prices. It’s a decision people make. X
Prices are increasing with inflation but wages are staying pretty much stagnant.. no wonder their profits have doubled…