Co-op confirms job cuts as part of £200m cost-saving plan

Summarised from 4 outlets · 5 reports · Updated 24 Sept, 23:20 · Archive

Co-op is cutting jobs as part of a £200m cost-saving plan amid widening losses.

Co-op is cutting jobs as part of a £200m cost-saving plan. The group's underlying pre-tax losses jumped to £92m for the six months to July, up from £75m a year ago. Co-op is also pressing ahead with its planned takeover of Southern Co-op. City AM reports the chief executive has blamed the national insurance raid for pushing the retailer towards more automation.

Co-op confirms job cuts as part of £200m cost-saving plan — Image: The Mirror

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How it is being reported

Co-op reveals job cuts as part of plans to save £200million after its losses deepenCo-op, which operates nearly 2,400 food stores, saw its underlying pre-tax losses jump to £92million for the six months to July 4, up from £75m a year ago, when it was hit by a cyber attackThe Mirror · 23 Sept, 14:03
Co-op blames job cuts on Labour national insurance raidCo-op group has slashed its headcount this year to handle the added costs of Labour’s national insurance raid, its chief executive has revealed, saying the tax hikes had pushed the retailer to invest in more automation. The group, which runs life insurance and funeral businesses as well as its grocery arm, said on Wednesday that [...]City AM · 23 Sept, 10:37
Co-op confirms job cuts as part of £200m cost-saving plan after cyber attackThe group is also pressing ahead with a planned takeover of smaller rival Southern Co-opThe Independent · 23 Sept, 10:29
Co-op to axe jobs as losses widen following Labour tax raidThe Co-op is axing jobs as it battles to save £200million in the face of widening losses.This is Money · 23 Sept, 09:55
Co-operative confirms job cuts under £200m cost-saving plan as losses widenThe group is also pressing ahead with a planned takeover of smaller rival Southern Co-opThe Independent · 23 Sept, 09:24

In this story: Co-op · Southern Co-op · Labour

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