Tuesday, 17 June 2014

Morrisons Plans 2,600 Job Cuts In Shake-Up

Dalton Philips Of Morrisons
Dalton Philips and his team have come under fire over strategy
Morrisons has confirmed plans for 2,600 job cuts as the loss-making supermarket chain battles falling sales and market share.
A statement detailing the changes said the losses would result from cutting tiers of in-store management but improving customer service as more staff would be focused on serving shoppers.
The announcement was made as the supermarket combats a flight to discounters with a series of price cuts that will cost it £1bn over three years.
Earlier this month, Morrisons reported a 7.1% slump in quarterly sales on the back of annual losses of £176m - a performance which prompted chief executive Dalton Philips to waive his bonus.
Morrisons has been the worst performer among the big four chains in terms of sales decline amid the tough competition from the discounters, including Aldi and Lidl, though major rivals including Tesco have also endured falling market share.
The chain was slow to commence an online food offering and also lagged its biggest competitors on convenience store numbers.

No comments:

Post a Comment