Financial News

  • 8 April 2014, 14:33

Asda Plans 12,000 New Jobs Over Five Years

Asda has announced it will create up to 12,000 jobs over five years as part of its latest UK expansion plans.

The announcement was made on a visit to the UK by the chief executive of parent company Walmart, Doug McMillon, as he showed Prime Minister David Cameron around an Asda store in south London.

Following the visit in Clapham Junction, Mr McMillion said: "We know that the UK is a great place to do business and since Walmart acquired Asda 15 years ago we have been able to invest 8bn in the UK economy - creating over 100,000 jobs, opening 342 new Asda stores and bringing lower prices to millions of customers.

"A seismic shift in the structure of the retail market is underway - not just in the UK - but right across the world.

"Asda recognised the change in its market and took early action to develop and implement a strategy that will see it grow - creating more new jobs and bringing real value to more customers in the UK."

The chain, which is in a battle with Sainsbury's for the second-biggest market share in the UK, is among the so-called 'big four' facing down growing custom for discounters.

Unlike many of the major chains, which are concentrating their investment on convenience and online delivery, Asda said it was planning new stores in areas it was yet to compete in but did not give further details.

Asda said its five-year strategy had the potential to create up to 12,000 new jobs.

Mr Cameron said of the news: "Supporting business, creating jobs and cutting taxes are all part of our long-term economic plan.

"I am delighted that Asda is continuing to invest heavily in the UK, creating another 12,000 jobs that will give people financial security for the future."