The first phase of TOM is a targeted 'Preference to Exit' process. Meaning that colleagues in specific business areas can express a preference to leave the employment of the Co-operative Group with a redundancy settlement (read below for redundancy terms).
Given the potential scale of Target Operating Model, NACO is welcomes the opportunity for colleagues to express an interest in voluntary redundancy. We hope that this voluntary scheme will provide some job security for colleagues remaining in areas of the business that have been identified as requiring restructure.
> Business Areas In Scope
Colleagues in specific corporate functions: HR, Finance, Legal, Marketing, Membership, Social Goals and IT have been given the opportunity to express a voluntary Preference to Exit the business by way of redundancy. Where applicable, this will include colleagues who work in these functions but sit in the Business Units e.g. Finance or HR colleagues who support the Consumer Services businesses.
Eligible colleagues currently in functions supporting Food will join the Preference to Exit process within the next two weeks once final data analysis is complete.
> Business Areas Out of Scope
GI and CLS are also out of scope for the Preference to Exit process.
Any redundancy arising through this voluntary scheme will be at contractual terms as previously agreed - Statutory Redundancy x 1.75. A matrix showing these terms is available here on the NACO website.
Given the tight timescales, colleague will not be asked to work their contractual notice period but will receive Payment in Lieu of Notice (PILON) as part of their final pay.
Members should note that any enhanced terms agreed for individuals, including terms 'red-circled' from members that have transferred from the Co-operative Bank will not be considered as part of this voluntary exercise.
The Preference to Exit scheme will follow the key milestones below. Eligible colleagues currently in functions supporting Food will be subject to an alternative timeline to be communicated once final data analysis is complete.
As always, NACO Officials are available to discuss individual circumstances with all members. Please contact the NACO National Office to speak with an Official.
In order to understand members reaction to this Preference to Exit scheme, NACO has opened a brief web survey for members' feedback. Please complete the survey linked below and help us represent your views.