Who said that big profits bring more jobs?

On the same day that Coles reported a whopping 82 per cent increase in net profit from last year* (total $1.2 Billion), it has reported that it is set to slash 2,500 jobs in the name of simplicity. Meanwhile, shareholders will receive a 21 per cent increase in their annual dividend.

So, maybe former Coles employees should use their severance pay (if any) to purchase Coles shares; at least then they might get a decent pay rise…

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* To be fair, this includes $600 million from the sale of Myer Department stores.