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Co-op has revealed plans to axe hundreds of jobs based at its headquarters in Manchester city centre
21.07.2022 - 21:25 / manchestereveningnews.co.uk
Co-op has revealed plans to axe hundreds of jobs based at its headquarters in Manchester city centre. A total of 400 jobs have been put at risk, with the majority based at the supermarket's head office in Angel Square.
The group said it is making the move because of a "tough trading environment" which includes the rise in inflation. It added that it will bring forward planned cuts as well as reduce roles by not filling vacancies.
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In a statement, the Co-op said they have made the decision 'with a heavy heart'.
A spokesman said that as part of their strategy at the last set of annual results that 'making (their) Co-op more efficient and cost-effective was a priority'.
"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", they said.
"These changes, designed to simplify our approach to business, will sadly mean a number of colleagues in central functions will leave the business. There are no changes to customer-facing roles 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."
The move comes after the group's long-serving chief executive stepped down in May.
Steve Murrells has been succeeded on an interim basis by group CFO and CEO of Co-op Life Services Shirine Khoury-Haq.
She became the group's first female chief executive since it was founded in 1863.
The Co-op is headquartered at One Angel Square in which it sold a 51% stake in 2013 for £142m.
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