The Co-operative Group is to cut the number of trading regions from eight to five in the new year as part of its transformation programme, although its total trading area will stay the same.
The society has been ringing the changes ever since it announced disappointing trading results in April - food profits slumped by 39% to £74.5m on sales of £3.44bn, down 0.8% for the year ending January 8.
It is in the process of cutting 600 head office jobs and selling off 100 poorly performing stores. It will also sell all 36 department stores by February 2007.
The regional chief officer for each of the five regions will be taking on a greater strategic role and will be backed by a deputy.
The society has been ringing the changes ever since it announced disappointing trading results in April - food profits slumped by 39% to £74.5m on sales of £3.44bn, down 0.8% for the year ending January 8.
It is in the process of cutting 600 head office jobs and selling off 100 poorly performing stores. It will also sell all 36 department stores by February 2007.
The regional chief officer for each of the five regions will be taking on a greater strategic role and will be backed by a deputy.
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