Morrisons Workforce Drops 4,912 as Efficiency Drive Accelerates

The workforce figures come alongside a broader restructuring. Earlier this year Morrisons announced plans to close 100 loss-making convenience stores, citing rising operating costs. Hundreds of roles could be affected.

Revenue rose 3.2% to £15.8bn in the 2024/25 financial year, with like-for-like sales up 2.8%. Underlying EBITDA held flat at £835m. Morrisons delivered £233m in cost savings during the year, pushing cumulative savings under its efficiency programme to £845m. The company expects to surpass its £1bn savings target by the end of its 2025/26 financial year.

Chief financial officer Jo Goff said the business had worked to offset higher costs from the government's 2024 Budget and wider inflationary pressures while continuing to reduce debt.

Morrisons has insisted that cost reduction remains central to strengthening the business as competition in UK grocery intensifies.