Australian retail giant Coles Myer yesterday started to shed around 1,000 staff from its Myer Grace Bros, Kmart, Target, Officeworks and Megamart divisions as part of a $32.1 million restructuring programme. CEO John Fletcher said the jobs would be axed in the first stage of a major business-wide shake-up across the company's merchandising and apparel group. 'Operation Right Now', as the initiative is termed, will generate cost savings of at least $90 million a year for general merchandise and apparel (GM&A) by the end of 2004.