Tesco is to cut around 140 jobs from its operations in Ireland amid a fierce price war with the likes of Aldi and Lidl.

The UK’s largest retailer told just-food today (14 May) that it is “restructuring its central office operations” in a bid to drive efficiency.

“This is standard commercial practice and is focussed on delivering an efficient retail business, lower prices and effective service for customers. We envisage that around 140 personnel will be affected by this restructuring programme and a voluntary redundancy programme has been announced,” the company said.

Tesco insisted that there are “significant opportunities” for staff to find jobs elsewhere at the company.

“With continued investment in Ireland, including further new stores, and an expanding international business across Europe, Asia and the US, we will be offering all affected staff the opportunity of redeployment and retraining for roles elsewhere in Tesco, either in Ireland or abroad,” the company said.

Last week, Tesco slashed prices by as much as 25% in Ireland in response to the growing number of shoppers crossing the border to Northern Ireland.

This week, German discount supermarket chain Lidl fired its own salvo in Ireland with a series of prices cuts.