Morrisons cuts 4,912 jobs, debt rises
Analysis based on 8 articles · First reported Aug 17, 2026 · Last updated Aug 17, 2026
The job cuts and rising debt signal ongoing financial strain at Morrisons, potentially affecting its creditworthiness and the private equity owner's investment. The maintained EBITDA and revenue growth may reassure investors, but the pre-tax loss and competitive pressures from discounters could weigh on sentiment.
Morrisons, the UK's sixth-largest supermarket group, cut almost 5,000 jobs in the fiscal year ending October 2025 as part of a turnaround programme under CEO Rami Baitiéh. Average monthly headcount fell from 101,144 to 96,232, a reduction of 4,912 roles, including over 4,200 store positions. The company attributed the cuts to the closure of its newspaper home delivery service, restructuring of the retail people team, and downsizing of the Rathbones bakery business, with no formal redundancy programme in stores. Despite cost-cutting, reported net debt rose to £7.52 billion from £7.07 billion, and the company posted a pre-tax loss of £629 million before exceptional items. Revenue increased 2.8% to £15.7 billion, and underlying EBITDA held at £835 million. The retailer faced headwinds from a cyber incident before Christmas 2024, rising inflation, and government cost increases, while losing market share to discounters Aldi and Lidl. Morrisons is owned by US private equity firm Clayton, Dubilier & Rice.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard