The Co-operative Group, one of the UK’s largest consumer cooperatives, has confirmed job cuts as part of a £200 million cost-saving programme, after reporting wider losses for the first half of the year.
The member-owned group, which runs more than 2,300 food stores and 800 funeral homes across the UK, reported underlying pre-tax losses of £92 million for the six months to 4 July, up from £75 million a year earlier. It said the results were affected by weak consumer confidence and £78 million in extra costs, including higher labour taxes.
Interim Chief Executive Kate Allum said the savings programme, launched this year, aims to offset rising costs and secure the Co-op’s long-term financial stability. She did not say how many of its 54,000 staff would be affected, stressing that it was “not just about jobs going but also being created”.
The results follow a difficult period for the business. A cyber attack in April 2025 cut its revenues by £206 million in the first half of last year, and it has since seen several changes in its senior leadership.
There are signs of recovery, however. Group sales rose 2.4% in the first half, with food sales up 2.6%. The Co-op said food sales have continued to grow into the second half and are back to the volumes seen before the cyber attack, helped by recent investment in lower prices and promotions.
