Business · 7 days ago
Morrisons posts a £629m loss and sheds almost 5,000 jobs to cut costs
The supermarket saw its debt hit £7.5bn last year, pushing bosses to consider selling about £1bn in store properties. Chief executive Rami Batiéh has paid down some of that borrowing since late 2023, despite the company facing higher rent bills. Alongside the huge financial hit, the retailer closed its newspaper delivery service and shrank its workforce to roughly 96,200 people.
Reported by City AM · How we write briefs