We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Morrison (wm) Supermarkets Plc | LSE:MRW | London | Ordinary Share | GB0006043169 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 286.40 | 286.60 | 286.70 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
By Saabira Chaudhuri
LONDON--Wm. Morrison Supermarkets PLC's new chief executive is slashing roughly one third of the jobs at its head office, continuing his overhaul of the U.K.'s fourth largest supermarket chain.
The Bradford, England-based retailer will cut 720 jobs at its head office, where the number of people employed has jumped 50% since 2008 to more than 2,300. At its supermarkets, the company is recruiting 5,000 staff to increase availability and open more check outs.
"We are focusing on the things that matter to our customers. That means having more of our staff in our stores, improving product availability and helping customers at our checkouts," said Morrisons Chief Executive David Potts. "To support this, we need a simpler, faster and cost-conscious head office and that requires some tough but necessary decisions."
Britain's supermarkets are in the midst of a fierce battle for market share with German discounters Lidl and Aldi, which attracted customers during the recession with their bargain prices. The latest data from industry body Kantar shows that Morrisons lost market share in the 12 weeks running to the end of March.
Morrisons' moves come as rival Tesco PLC--Britain's largest supermarket chain--has also been putting more staff on the shop floor as part of a larger move to defend market share. Tesco's new CEO Dave Lewis has closed unprofitable stores and reduced Tesco's product lineup, and has also said he wants to sell some noncore assets.
Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Morrison (wm) Supermarkets Chart |
1 Month Morrison (wm) Supermarkets Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions