# Morrisons financial losses and workforce reductions > Live situation record from CLSTR: https://clstr.news/situations/morrisons-financial-losses-and-workforce-reductions > Updated: 2026-09-08T13:02:37.000Z. Sources: 4. Developments: 2. 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. ## Timeline ### 2026-09-08: 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. 4 sources. https://clstr.news/cluster/morison-industries-reports-widening-h1-2026-loss-despite-revenue-growth ### 2026-08-17: 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. 8 sources. https://clstr.news/cluster/morrisons-reports-629m-pre-tax-loss-and-nearly-5000-job-cuts --- Cite as: Morrisons financial losses and workforce reductions. CLSTR, https://clstr.news/situations/morrisons-financial-losses-and-workforce-reductions