Morrisons cuts 5,000 jobs as debt rises to £7.5bn

Morrisons cut nearly 5,000 jobs last year as part of a broader turnaround effort, while its net debt rose to over £7.5 billion, according to newly filed financial accounts. The UK supermarket chain, headquartered in Bradford, saw its average monthly workforce fall from 101,144 to 96,232 in the year ending October 2025, a reduction of 4,912 positions.

The majority of the cuts, more than 4,200 roles, occurred in stores. Additional reductions were made in food manufacturing and distribution. A company spokesman stated the changes "primarily reflect the impact of the closure of the newspaper home delivery service in convenience, the restructuring of the retail people team and the downsizing of the Rathbones bakery business." He emphasized there was no additional redundancy programme in stores, where numbers were reduced by not replacing staff who chose to leave.

Despite the workforce reduction, group revenue increased by 2.8% to £15.7 billion. Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) held steady at £835 million. However, the retailer reported a significant pre-tax loss. Figures filed at Companies House show a reported loss of £926 million, or...