Story perspectives

Morrisons Cuts 3,600 Jobs Despite £2.1 Billion Profit

8/5/2025

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Summary

Story summary

Morrisons has eliminated 3,600 jobs and closed 17 convenience stores in a restructuring move.
The workforce has decreased from 104,819 to 101,144, despite a pre-tax profit of £2.1 billion for the year ending October 27, 2024.
Revenue dropped from £18.3 billion to £17 billion, even with a 3.9% rise in like-for-like sales.
CEO Rami Baitiéh highlighted a commitment to value amid ongoing economic challenges.
Other UK supermarkets, including Aldi and Sainsbury's, are also implementing job cuts.

History

Historical Context

The 2008 global financial crisis caused UK unemployment to peak at 7.9%, significantly impacting retailers like Tesco and Sainsbury's. Today, Morrisons' decision to cut 3,600 jobs, despite reporting a £2.1 billion profit, reflects ongoing economic pressures. This trend indicates a shift in the retail landscape, prioritizing efficiency over workforce stability amid persistent economic challenges.

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Story summary

Morrisons has eliminated 3,600 jobs and closed 17 convenience stores in a restructuring move.
The workforce has decreased from 104,819 to 101,144, despite a pre-tax profit of £2.1 billion for the year ending October 27, 2024.
Revenue dropped from £18.3 billion to £17 billion, even with a 3.9% rise in like-for-like sales.
CEO Rami Baitiéh highlighted a commitment to value amid ongoing economic challenges.
Other UK supermarkets, including Aldi and Sainsbury's, are also implementing job cuts.

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