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Morrisons Cuts Jobs, Grows Debt | Aberdeen News
Morrisons slashed 5,000 jobs last year in a bid to fix finances—but paradoxically ended up with more debt. Store staff took the biggest hit, along with bakery and distribution roles, as the chain shut down its newspaper delivery, restructured teams, and stopped replacing voluntary leavers. Despite revenue jumping past £15 billion, pre-tax losses neared £700 million and net debt soared to over £7.5 billion. Still, they held steady on market share and underlying earnings amid rising costs and a crippling cyber attack—now racing to outmaneuver Aldi and Lidl in a brutal retail battle. Listen in…
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