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2 clusters · 4 sources · 22 days · First seen 25 days ago · Last updated 4 days ago

Morrisons financial losses and workforce reductions

Overview

Morrisons reported a pre-tax loss of £629 million for the year ending October 2025, despite a 2.8 per cent increase in group revenue to £15.7 billion. The retailer’s net debt rose to £7.5 billion, driven largely by higher lease liabilities from an expanded vehicle fleet and new store openings in the Channel Islands.

The company also saw its average monthly workforce decrease by 4,912 employees, falling to 96,232. These reductions included over 4,200 roles in stores, food manufacturing, and distribution. A spokesperson noted that store-level reductions occurred by not replacing departing staff rather than through a formal redundancy programme, citing the closure of a newspaper home delivery service and the downsizing of the Rathbones bakery business as contributing factors.

Owned by the US private equity firm Clayton, Dubilier & Rice, Morrisons is currently executing a turnaround programme under CEO Rami Baitieh to combat market share losses to competitors such as Aldi and Lidl.

Entities

Morrisons · Companies House · Clayton, Dubilier & Rice · Aldi · Morison Industries Plc

Timeline

4 days ago

[BUSINESS] 4 sources
Morison Industries reports widening H1 2026 loss despite revenue growth
Morison Industries Plc reported a widening pre-tax loss of ₦10.28 million for H1 2026, despite a 21.4% increase in revenue, driven by rising production and distribution costs.
25 days ago

[BUSINESS] 8 sources
Morrisons reports £629m pre-tax loss and nearly 5,000 job cuts
Morrisons reported a pre-tax loss of £629 million and a rise in debt to £7.5 billion, while cutting nearly 5,000 jobs as it undergoes a major turnaround programme.

Sources

bdaily.co.uk · businessday.ng · retailgazette.co.uk · worldstagenews.com