Finance Finance News Coles axes more than 400 jobs

Coles axes more than 400 jobs

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Coles will cut more than 400 jobs from its Melbourne head office in an effort to cut costs.

The supermarket giant will cut 378 permanent jobs and 60 contractors from its Tooronga-based Store Support Centre.

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Managing director John Durkan says 160 people could be redeployed across the business.

“All departing team members will be provided with extensive support, including career transition services and, of course, their full entitlements,” Mr Durkan said in a statement on Wednesday.

Mr Durkan says no jobs will be sent off-shore.

He says the cuts are designed to simplify systems and processes, “allowing for a more efficient and productive organisation” to support further growth in Coles’ supermarkets and outlets.

Mr Durkan says while jobs are going from the Melbourne support centre, Coles is opening 14 new stores across Victoria in the next three years.

“As part of Coles’ expanding financial services offer, we plan to create more than 70 positions,” Mr Durkan said.

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