Co-op confirms job cuts and deepening losses amid £200m turnaround after axing mini-store chain

From the Newshound archive · first published 24 September 2026 · last updated 25 September 2026.

Co-op has confirmed job cuts across its 54,000-strong workforce as pre-tax losses deepened to £92 million in the first half of this year, up from £75 million a year ago, as part of a £200 million cost-cutting drive. Interim chief executive Kate Allum refused to say how many roles would go, insisting it was "not just about jobs going but also being created." The group also quietly scrapped its entire chain of standalone On the Go micro-stores, which it had only launched in Solihull last summer, after finding the concept worked better bolted onto existing shops. The cyber attack in April 2025 slashed revenues by £206 million and profits by £80 million, compounding an already brutal year.

Losses were made worse by £78 million in extra costs, including higher employer National Insurance bills and weak consumer confidence.

Former chief executive Shirine Khoury-Haq quit in March, followed by ex-chairwoman Debbie White in August, and managing director Matt Hood earlier in the summer.

Co-op had planned hundreds of On the Go standalone stores by 2028 — all have now closed, just over a year after the first opened.