The chief executive has admitted the Co-operative's 'disastrous' £2.5bn losses for 2013 means that "thousands" of jobs will go from the organisation.
Richard Pennycook said: "I wouldn't want to pretend that there won't be job losses. We have said that there will.
"I don't want to put a specific number on [fewer people working for the Co-operative] but it will be a smaller group, some thousands of people smaller than that.
"Some of those because of our colleagues, in businesses that we are selling, will be going with those businesses to new owners."
He said that the group would remain a "very significant" employer in two years' time, adding that within four weeks the organisation's AGM would reveal the "new shape of the group", and a "clearer idea of how it is going to look".
More top news
Teenage blogger Amos Yee from Singapore was jailed for posting criticisms of his government online.
Supermarket chain decide to unlock trolleys at some of its biggest stores as it deals with the implications of the new £1 coin rollout.
Florida police have charged a man who decided to eat his pancakes in the middle of the street with "placing an obstruction in the road".