Co-op to cut up to 300 jobs
27 February 2012
The Co-operative Group is to cut between 200 to 300 jobs following a review of its food operation.
The redundancies will mainly consist of head office jobs but no cuts will be made in their 3,000 grocery shops.
‘Extreme challenges’ affected their sales over the last 13 weeks with a 0.2% fall in grocery sales. The Co-op is looking to save money and increase efficiencies in its back-offices in response to their drop in trade.
Sean Toal, the acting chief executive of food, says: "We are continuing to face extreme challenges in a market where customers are spending less. It is no exaggeration to say that our business is experiencing some of its toughest trading conditions in recent history and this is impacting on our financial performance."
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