Morrisons' Cuts: A Harbinger for Britain's Struggling Retail Sector? The latest accounts from Morrisons reveal almost 5,000 jobs lost in just one year.
This is not just a symptom of Morrisons' struggles but also a warning sign for the industry as a whole, grappling with changing consumer habits and intense competition.
Morrisons' total debt levels rose further despite cost cutting efforts across the business. However, its revenues saw a modest increase, up 2. 8% to £15. 7 billion.