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Co-op announces plans to cut 400 jobs at its HQ in Manchester

The group blamed its decision to cut jobs on a "tough trading environment".

Emily Sergeant Emily Sergeant - 22nd July 2022

The Co-op has announced plans to cut 400 jobs, and has blamed a “tough trading environment” amid the rising cost of living crisis.

The group has confirmed that the majority of the job cuts will be made at its state-of-the-art headquarters at One Angel Square in Manchester city centre – where 4,000 employees are based – and it said it intends to do this through a mixture of redundancies and by not filling vacancies.

A spokesperson for the Co-op group said the decision to axe roles at its Manchester-based HQ had made “with a heavy heart”.

It blamed a “tough trading environment” as the reasoning behind the decision.

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The announcement of job cuts comes after the company had warned in its last set of annual results that making the business “more efficient and cost-effective” was a “priority” going forward, and revealed that it had brought forward plans for “rationalisation”, with 2023 earmarked for this, according to The Business Desk.

The changes are “designed to simplify [the] business”, the Co-op spokesperson insisted.

The group blamed its decision to cut jobs on a “tough trading environment” / Credit: The Co-op Group (via Flickr)

Announcing the decision to axe roles, a spokesperson for the Co-op 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.

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Read more: Inflation hits new 40-year UK high of 9.4% amid cost of living crisis

“These changes will sadly mean a number of colleagues in central functions will leave the business, but there are no changes to customer-facing roles and, where possible, we will reduce roles by not filling vacancies and through preferences to exit.”

They concluded: “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.”

Featured Image – The Co-op Group (via Flickr)