Co-op set to axe more jobs at its head office
Wednesday 25 January 2012
The Co-operative Group's food business is to cut more jobs at its Manchester head office next month after warning of a financial hit from "some of its toughest trading conditions in recent history".
Following a review of the UK's fifth-biggest grocer, seven senior managers are leaving, including Kay Wheelton, head of commercial trading, and Helen Bridgett, who runs its commercial, strategy and planning. These changes are part of its move to a new operating model to drive efficiencies and remove duplication while lowering costs.
The Co-operative's food operation has warned of more head office job losses at the end of February, but not in stores. In an internal memo earlier this month, the Co-operative said, "cost reductions will unfortunately mean there will be a number of redundancies" although it did not provide a figure.
The Co-operative, which has more than 3,000 food shops, posted a 0.2 per cent fall in sales over the 13 weeks to 31 December.
In the memo, Sean Toal, the acting chief executive of food, said: "In common with other UK food retailers, we are continuing to face very 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."
- 2 California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
- 3 School kitchen manager 'fired from Colorado school for giving hungry students free lunches'
- 5 Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
Amber Peat: Body found in search for missing 13-year-old who left house after argument with her parents
School kitchen manager 'fired from Colorado school for giving hungry students free lunches'
Isis executes three gay men by dangling them from top of 100ft building and letting go
Alton Towers crash: Four guests seriously injured as Smiler ride carriages collide
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Church of England 'one generation away from extinction' after dramatic loss of followers
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...
£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...