Whistle Blown at Terry's Head Office
I work at Tesco Head Office and came across some very interesting material :
- Commercial staff having 'secret' accounts with suppliers whereby the Tesco buyers overpay in the good times with the understanding that they can call on the deposit to artificially show improved management of margins when demanded by senior management, up to £25m would be 'squirrelled' away in this manner at any one time. On 2 occasions that I was aware of these secret accounts were used to commit fraud;
- land buyers having to buy x sqft of land to achieve objectives and in turn receive lucrative bonuses, regardless of whether there was any real chance of building a store on the land;
- staff particularly in the property department receiving excessive hospitality, such as receiving multiple fully paid skiing holidays a year;
- mislead staff about the planned offshoring of jobs to India, Tesco senior management knew from the start they intended to lose 2,800 jobs in the Head Office and move them to India. Even when the headcount in India made it above 1,000 they still managed to keep news of this out of the press - other companies were hammered in the press for losing far less UK staff to India;
- a case of bullying and poor management in a store lead to an employee with mental health issues committing suicide, the initial investigation was a cover up;
...more to come