Swedish retailer and wholesaler Coop Sverige is to lay off 480 staff as part of the company’s merger plans.

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Coop Norden, which owns Coop Sverige, is planning to merge its operations in Denmark, Norway and Sweden in order to reduce costs.

As a result of the merger, Coop Sverige is to cut 350 jobs at its headquarters in Stockholm and 130 jobs in other divisions.

The retailer also plans to relocate its headquarters from the Stockholm district of Slussen to Solna, which is near Stockholm. The relocation is expected to lead to cost savings of SKr500m (US$61.7m) by 2005.

Coop Norden will also cut jobs at its Norwegian and Danish units, reported the Swedish News Digest.

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