It has been announced that the Co-op Group is to axe around 400 jobs. The retail and funeral firm blamed tough trading conditions amid “rising inflation” for the decision.
It said none of its customer-facing roles in food stores or funeral homes will be impacted by the shake-up, while it is understood that the cuts will predominantly affect workers at its Manchester headquarters. In all, around 4,000 support staff are employed by the Co-op Group, as part of a total workforce of 63,000 people.
In April, new chief executive Shirine Khoury-Haq revealed that the firm’s annual profits were slashed in half following supply chain disruption and higher costs. The group said on Friday that it has had to bring forward changes which were originally proposed for next year due to the fragile economic backdrop.
