Australian supermarket chain Coles plans to cut between 500 and 600 jobs from its head office in Melbourne as part of a renewed efficiency drive aimed at freeing up funds to reinvest in reducing food and liquor prices.
The job cuts are expected to be announced in Melbourne on Wednesday by new Coles managing director, John Durkan.
Coles was not immediately available to comment on the job losses, which represent almost 20 percent of the 3000-strong workforce at Coles’s Tooronga headquarters. However, Durkan told investors last month that, faced with continued cost pressures, Coles needed to simplify and reduce its cost of doing business.
(Source: The Sydney Morning Herald Online )