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Morrisons' store and operations cost-cutting move risks 365 jobs

UK supermarket chain Morrisons has unveiled a comprehensive plan to revitalise its business operations as it embarks on the second phase of its strategic renewal programme. The retailer plans to close multiple facilities,
Morrisons, a UK supermarket chain, is planning to cut around 365 jobs as part of a cost-saving initiative aimed at reducing store and operational expenses. This decision includes the potential closure of seven Morrisons' McColl's stores, which were acquired in 2022, and the transformation of some in-store counters into more efficient food prep areas. The company has initiated a consultation process with the affected employees, offering them alternative roles where possible. This move comes as Morrisons seeks to streamline its operations and adapt to changing retail dynamics, amidst efforts to recover from financial pressures including a significant debt burden from its 2021 private equity takeover.

Read the Full GlobalData Article at:
[ https://www.msn.com/en-us/money/general/morrisons-store-and-operations-cost-cutting-move-risks-365-jobs/ar-AA1BDt3j ]