450 executive jobs at Coles will be axed ahead of CEO Steven Cain’s first investor day and strategy update scheduled for June 18.
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.
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.