Asda Faces £100m Cost from Labour's Budget, Warns of Price and Hiring Impact

The increase in employer taxes is seen as a major burden, potentially affecting wages and staffing decisions at the supermarket giant.

Asda's chairman, Lord Stuart Rose, criticized the Labour government's budget, citing a £100m increase in costs due to changes in employers' national insurance contributions.
The supermarket chain is evaluating its expenditures, including staff wages and hiring, and may have to raise prices as a result of the increased tax burden.
Asda reported a 2.5% decline in third-quarter revenues, attributing the drop to ongoing challenges in the retail market and increased competition from discount chains.
In response to financial pressures, Asda announced job cuts at its head office and plans to invest in improving customer service by increasing staff hours.
The company is undergoing significant leadership changes, with Lord Rose temporarily leading Asda after the co-owner Mohsin Issa stepped back from executive duties.