"Morrisons confirmed that a fresh round of restructuring would hit roughly 8 percent of the workforce at its Hilmore House headquarters, with cuts spread across every department."
"The proposals were part of a longer-term plan to streamline processes, automate manual tasks and capitalise on the potential of data and artificial intelligence to improve performance."
"Morrisons posted a statutory pre-tax loss of £381 million in its latest financial year, a modest improvement on the £414 million loss the previous year."
"Net debt has been cut by 46 percent to £3.17 billion since 2022, largely through redundancies and the disposal of selected stores and petrol forecourts."
Morrisons is at risk of cutting up to 200 head office jobs as part of a restructuring plan aimed at improving efficiency through artificial intelligence and automation. This move affects about 8 percent of the workforce at its headquarters. The company has faced financial difficulties since being taken private in 2021, accumulating significant debt. Recent efforts to reduce costs have included making entire teams redundant and relocating staff. Despite a slight improvement in losses, the company continues to focus on streamlining operations and leveraging data.
Read at Business Matters
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