Coles May Axe Hundreds of Jobs
450 executive roles at Coles HQ could be axed as new CEO Steven Cain aims to cut costs ahead of Cain’s first investor day and strategy update scheduled for June 18.
Reportedly, many of the roles set to be eliminated have been vacant for some time. However, the exact number of redundancies has not been disclosed.
Job losses will reportedly affect employees at Coles head office in Tooronga in Melbourne’s east.
Head of Coles Express, Alister Jordan and Chief Store Operations Officer Paul Bradshaw will be leaving the company as part of this new restructure.
Current Chief Operations Officer (COO) Greg Davis will reportedly run Coles Express convenience and has been named as the company’s new chief executive of commercial.
Chief Supply Chain Officier Matthew Swindells will take over as COO.
The company has also poached IGA executive Ian Bowring to head its “smarter selling” division.
In November 2018, Wesfarmers demerged Coles Group from its holdings, it currently holds a 15 per cent interest in Coles Group Limited.
Rival supermarket chain Woolworths also announced a restructure last week but pledged to avoid any job losses.
The redundancies are part of Cain’s “strategic reset” which is set to be revealed at the June 18 strategy update and investor day.