Morrisons implements cost-cutting program, closing stores and risking 365 jobs

From Yahoo Finance: 2025-03-25 05:20:00

UK supermarket chain Morrisons is implementing a strategic renewal program, closing 17 convenience stores, 13 florist shops, and more to foster growth and streamline operations. The changes aim to counteract recent cost escalations and focus on valued areas. Most affected employees will be reassigned, but 365 jobs are at risk.

Morrisons reported a revenue increase to £15.27bn in the fiscal year 2023/24, up by 3.8%. The company also enhanced its senior leadership with new appointments and internal role formalizations. These changes come as Morrisons takes steps to revitalize its business operations and focus on growth areas.

Read more: Morrisons’ store and operations cost-cutting move risks 365 jobs