UK's Morrisons to cut 3,000 management jobs By Reuters

UK's Morrisons to cut 3,000 management jobs

Stock MarketsJan 23, 2020 07:36AM ET

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UK's Morrisons to cut 3,000 management jobs

LONDON (Reuters) - Morrisons (L:MRW), Britain's No. 4 supermarket group, plans to cut 3,000 management jobs as part of a major restructuring of its workforce that will see 7,000 store jobs created, it said on Thursday.

"The (net) increase of more than 4,000 jobs is after a number of managerial roles are removed," the Bradford, northern England, based grocer said.

Jobs created would include skilled butchers, bakers, fishmongers and other fresh food specialists.

Shares in Morrisons were down 1% at 1209 GMT.

On Tuesday, Britain's No. 2 supermarket group Sainsbury's (L:SBRY) said it was cutting "hundreds" of management roles.

All of Britain's big four food retailers, also including market leader Tesco (L:TSCO) and No. 3 Asda (N:WMT), are chasing efficiency savings to fund price cuts so they can better compete with discounters Aldi and Lidl, who are still winning market share.

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