The Co-op is to shed 400 roles across the business as part of a cost-cutting move.
According to a Co-op spokesperson, these cuts had been planned for 2023 but rising costs and “the tough trading environment” mean they will happen sooner.
“At our last set of annual results, we shared that as part of our strategy, making our Co-op more efficient and cost-effective was a priority,” they said. “The tough trading environment, including rising inflation, means we have taken the difficult decision to bring forward some of the changes we had planned for 2023.
“These changes, designed to simplify our approach to business, will sadly mean a number of colleagues in central functions will leave the business.”
The spokesperson added that the cuts will not impact those working in food stores.
“There are no changes to customer-facing roles in our food stores and funeral homes and, where possible, we will reduce roles by not filling vacancies and through preferences to exit. We make these changes with a heavy heart, but it is the right thing to do for the long-term health of our Co-op and for all of our members.”
This comes after Nisa confirmed that it will be cutting jobs as part of a cost-saving review.
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